ANCHOR FABRICATION (GARLAND, TX)

SINGLE TENANT

3841, 3851, 3903 CAVALIER DRIVE, GARLAND, TX 75042
Price :
$ 3,330,000
Cap Rate :
7.50%
NOI :
$ 249,696
Lot Size :
2.72 acres
Year Built :
1969-1991
Property Area :
53,254 sqft
Status :
UNDER CONTRACT
MARKETING PACKAGE

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

 

Investment Highlights

• Current Tenant is Committed to an Absolute Net Lease with 9 Years Remaining and 2.0% Annual Rental Increases
• Anchor has Subleased the Three Buildings at Market Rent
• Seller Reports Newly Replaced TPO and Metal Roofs in 2016 with 20-Year Warranty
• Properties Consist of 10 Grade Level Doors, 4 Dock High Doors and Heavy Power Throughout
• Subject Asset is Proximate to Interstate 635, Texas State Highway 78 and Forest/Jupiter DART Station
• Approximately 1.5 Acres of Outside Storage Area: 6 Inch Concrete, Partially Fenced, and 74 Parking Spots
• All Three Properties Are Divisible on Separate Plats

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the properties located at 3841, 3851, and 3903 Cavalier Drive in Garland, Texas leased to Anchor Fabrication. The subject properties consist of approximately 53,254 square feet of space and is situated on 2.72 acres of land. The subject properties feature 10 grade level doors, four dock high doors, and heavy power throughout. With ample outside storage and parking, the properties consist of approximately 74 total spots spanning across approximately 1.5 acres of partially fenced 6-inch concrete. All three properties are divisible on separate plats. The seller reports newly replaced TPO and metal roofs in 2016 with a 20-year guaranty. Anchor Fabrication is committed to an absolute net lease with over nine years remaining and 2 percent annual rental increases. However, the current tenant has been subleasing the properties at market rent. The subject asset is proximate to Interstate 635, Texas State Highway 78, and Forest/Jupiter DART Station.

As the 12th largest city in Texas, Garland is less than 30 minutes from DFW International and Dallas Love Field Airports and is connected to the DART Rail. It is ranked first in the state of Texas for housing affordability. Garland prides itself on business development and lower taxes, with no personal income tax, no state property tax, no local occupation tax, no local wage tax, and no gross receipts tax. CoStar reports 5.30 percent annual rental growth in the Northeast Dallas/Garland Submarket. Major businesses in the area include Kraft, Sherwin Williams, Resistol, U.S. Food Service, Atlas Copco, and Plastipak.

 

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: ZAA0060495)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916
Sam Martin
(972) 755-5198
Lic # TX : 707514

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