1835 FORMS DRIVE (CARROLLTON, TX)

SINGLE TENANT

1835 FORMS DRIVE, CARROLLTON, TX 75006
Price :
$ 9,500,000
Cap Rate :
6.13%
NOI :
$ 582,348
Lot Size :
7.69 acres
Year Built :
1964/2009
Property Area :
97,530 sqft
Status :
AVAILABLE
MARKETING PACKAGE

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

 

Investment Highlights

  • 97,530 Square-Foot Industrial Warehouse Situated on 7.69 Acres – Excess Land for Future Development, Outside Storage, or Trailer Parking
  • Highly Functional Asset Featuring 20’ Clear Heights, Seven Dock-High Doors, and Two Grade Level Doors
  • 100% Leased by PM Standley Motorcars with Absolute Triple-Net Lease in Place, and 7.5 Years Remaining on the Primary Term
  • High Tenant Commitment to the Location: Recently Spent an Excess of $2MM in Improvements to the Property
  • Proximate to Five Major Freeways and Dallas-Fort Worth International Airport with a 308,773 Population and $98,925 Average Household Income
  • PM Standley Motorcars in Business Since 1944 and in Place at the Current Location Since 2007

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1835 Forms Drive in Carrollton, Texas, leased to PM Standley Motorcars. Built in 1964 and remodeled in 2009, the subject property consists of approximately 97,530 square feet of space and is situated on 7.69 acres with excess land for future development, outside storage, or trailer parking. The subject property is a highly functional asset featuring 16’-20’ clear heights, 100 parking spaces, seven dock-high doors, and two grade-level doors. PM Standley Motorcars occupies 100 percent of the property with an absolute triple-net lease in place and approximately 7.5 years remaining on the primary term. The tenant has a high commitment to the location, after recently spending in excess of $2 million in improvements on the property. The asset is proximate to five major freeways and the Dallas-Fort Worth International Airport, with a 308,773 population and $98,925 average household income within a five-mile radius. Family-owned, PM Standley Motorcars has been in business since 1944 and at the current location since 2007.

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.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0060065)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916

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