ASHLEY FURNITURE (RBLS, INC.) (GRAND PRAIRIE, TX)

SINGLE TENANT

502 FOUNTAIN PARKWAY, GRAND PRAIRIE, TX 75050
Price :
$ 9,950,000
Cap Rate :
6.51%
NOI :
$ 647,565
Lot Size :
11.49 acres
Year Built :
1979/1995
Property Area :
213,630 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

  • 213,630-Square Foot Warehouse, Distribution Center, Customer Pickup Center and Corporate Offices for Ashley Furniture Franchisee RBLS, Inc.
  • Leased to Ashley Furniture Franchisee – Only Customer Pickup Facility in the Dallas/Fort Worth Metro
  • Features Masonry Construction with 12’-32’ Clear Heights and 30 Dock-High Doors
  • Located in Upper Great Southwest Industrial Submarket with a Vacancy Rate of 6.5%
  • Located Just Off of Highway 360 and Proximate to Interstate 30
  • High Visibility from Highway 360 and Fountain Parkway

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 502 Fountain Parkway in Grand Prairie, Texas leased to Ashley Furniture Franchisee, RBLS, Inc. The customer pickup center and outlet store consists of approximately 213,630 square feet of space and is situated on 11.49 acres of land. The subject property features masonry construction with 12’-32’ clear heights and 30 dock-high doors. The asset is located in the Upper Great Southwest Industrial submarket with a vacancy rate of 6.5 percent. Located just off of Highway 360 and proximate to Interstate 30, the subject property has high visibility from Highway 360 and Fountain Parkway. Being the only customer pick-up facility for Ashley Furniture in the Dallas / Fort Worth area, the facility’s central location, functionality and accessibility to the major freeway system – makes it an ideal location for the subject tenant.

With more than 800 stores in the United States and Canada and over 20,000 storefronts worldwide, the Ashley Furniture family of companies has grown to encompass Ashley Furniture Industries, Inc., Ashley HomeStore, Ashley Distribution Services, LTD, and Ashley Global Retail, LLC. Founded in 1945, the company employed over 23,000 at the end of 2018. With unmatched design, manufacturing, supply chain management, quality control, and information technology, Ashley Furniture is the #1 furniture manufacturer in the world and #88 on Forbes’ list of America’s Largest Private Companies for 2018 with $4.7 billion in revenue. Industry awards for Ashley Furniture include: Ernst & Young National Finalist Entrepreneur of the Year, Furniture Today’s Supplier of the Year, Deloitte 75’s Distinguished Service Community, and more. Headquarters for Ashley Furniture is located in Arcadia, Wisconsin. (www. AshleyFurniture.com)

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: ZAA0060449)

Exclusive Listing

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

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