992 HALTOM ROAD (FORT WORTH)
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- 71,001 Square-Foot Warehouse Situated on 5.36 Acres
- Features Six Dock-High Doors, 16’-22’ Clear Heights, and Heavy Power
- Contains 4,264 Square Feet of Newly Refurbished Office
- New Sprinkler System and Roof
- Proximate to I-35W & I-30
Marcus & Millichap is pleased to present the opportunity to acquire 992 Haltom Road in Fort Worth, Texas. The subject property consists of approximately 71,260 total square feet and is situated on 5.36 acres of land in one of the most populous cities in the Dallas/Fort Worth metroplex. The building features heavy power, a new roof reported by seller, a fully sprinkled facility, and a 4,264 square-foot newly refurbished office. Tenants include newly executed leases with a variety of service and industrial companies. The asset is proximate to both Interstate 35W and Interstate 30. Average vacancy for the Fort Worth submarket is 4.3 percent (CoStar) with $44.2 million in sales volume for 2018 thus far. The submarket reports a 4 percent unemployment rate and 2.3 percent job growth in just the last year.
The metro is home to several higher-educational institutions, including Texas Christian University, the University of Texas at Arlington, which supplies an educated labor force for the large and diverse employment base. Lockheed Martin Aeronautics Co. is headquartered in Air Force Plant 4 in the city of Fort Worth. It serves the Naval Air Station, also based in the metro. Healthcare is a strong economic driver, assisted by students graduating from the area’s many colleges and universities. Large employers include Texas Health Resources and University of Texas. General Motors’ assembly plant has been operating in the metro since 1954 and currently manufactures large SUVs for various divisions such as Chevrolet, GMC and Cadillac, providing numerous jobs. Local amenities include the Kimbell Art Museum, Modern Art Museum of Fort Worth, the National Cowgirl Museum and Hall of Fame, as well as rodeos at the Fort Worth Stockyards.
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 areas extensive network of rail and highways along with the International Inland Port of Dallas ensure its status as a distribution hub.