CROWLEY BUSINESS PARK (ARLINGTON, TX)
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- Close Proximity to Major Highways Connecting to All Areas of Dallas/Fort Worth (DFW)
- Minutes From Fort Worth Meacham International Airport and DFW International Airport
- 100 Percent Occupied Multi-Tenant Space Provides Diversified Cash Flow
- Upside Potential Through Increasing Below-Market Rents
- Tough Barrier-to-Entry Market: 3.2 Percent Overall Vacancy in Submarket (CoStar)
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 323-325 Crowley Road in Arlington, Texas. The subject property consists of approximately 18,400 square feet of space and is situated on 0.89 acres of land. The asset features masonry and metal construction, 16 grade-level doors, and the seller reports roof replacement on both buildings within the last six-10 years. The 100 percent occupied multi-tenant space will diversify cashflow for an investor, with the added upside potential through increasing below-market rents. The subject property is in close proximity to all major highways throughout DFW and is minutes from Fort Worth Meacham International Airport and DFW International Airport. In a tough barrier-to-entry market, the overall vacancy in the submarket is 3.2 percent. (CoStar)
The Arlington Submarket is a secondary distribution node between Fort Worth and Dallas. Vacancy levels spiked due to a series of large deliveries in late 2019 and are expected to normalize in the near term with the pipeline for new buildings essentially dry. Rent growth in Arlington continues to outperform historical averages. Rents in specialized industrial and flex assets are well above the submarket average. With vacancies nearly nonexistent in those subtypes, landlords are in as strong a position as ever to continue to push rents over the next few quarters. Sales activity is intermittent in the Arlington Submarket. Arlington’s light industrial and manufacturing based inventory leads to more sales involving owner/users and local investment firms. This comes in contrast to submarkets to the north, which have a more big-box heavy industrial stock.
As the 50th largest city in the United States, Arlington is home to five public school districts and three universities. Its prime location at the center of the DFW Metroplex, pro-business environment, and extensive track record of handling large-scale developments makes Arlington an ideal place for business (arlingtontx.gov). Arlington has a steady population increase for the area. Top employers in the Arlington market include University of Texas at Arlington, General Motors Co., Texas Health Resources, Six Flags Over Texas, and GM Financial. Popular attractions include Cowboys AT&T Stadium, Globe Life Park (Texas Rangers), Hurricane Harbor, and Lake Arlington.