1815 SOUTH SAM RAYBURN FREEWAY (SHERMAN, TX)
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• 334,272-Square-Foot Multi Tenant Warehouse Situated on 12.69 Acres
• Features Two Dock-High Doors, Six Grade-Level Doors, and 16’-25’ Clear Height
• 10% Occupied with a Market Vacancy Rate of 2.10% Creates investment Opportunity
• Strategically Located Industrial Warehouse with Proximate Access to Major Freeways
• Zoned Heavy Industrial: Rare Zoning in Sherman, Texas
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1815 South Sam Rayburn Freeway in Sherman, Texas. The subject property consists of approximately 334,272 square feet of space and is situated on 12.69 acres of land. The asset features two dock-high doors, six grade-level doors, and 16’-25’ clear heights. A rare zoning in Sherman, Texas, the subject property is zoned Heavy Industrial. Ten percent property occupancy combined with a market vacancy rate of 2.10 percent creates investment opportunity for a buyer. This strategically located industrial warehouse has proximate access to major freeways.
Industrial rents in the Sherman-Denison Market were rising at a 0.8 percent annual rate during Q3 2020, and have posted an average annual gain of 4 percent over the past three years. There is 88,000 square feet currently underway, representing the largest under construction pipeline in over three years. Over the past three years, 33,000 square feet has delivered, or a cumulative inventory expansion of 1.2 percent. Vacancies in the metro were significantly below the 10-year average as of 2020 Q3, but trended slightly upwards over the past four quarters. Prior to the major economic interruption that resulted from the coronavirus, employment numbers were positive, but not outsized. At the end of last year, employment was growing at a 0.7 percent annual rate. In total, industrial employment makes up about 8,500 of the metro’s 49,000 jobs. (CoStar)
The Dallas/Fort Worth metroplex is the fourth-most populous metro in the nation with an aggregate of more than 7.1 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 800,000 residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the region’s transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metros numerous corporations and growing industries. Dallas/Fort Worth’s population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 21 Fortune 500 companies and many regional headquarters, drawing workers and residents. The area’s extensive network of rail and highways, along with the International Inland Port of Dallas, ensure its status as a distribution hub.