KROGER DRIVE MULTI TENANT WAREHOUSE (FORT WORTH, TX)

MULTI TENANT

5650 KROGER DRIVE, FORT WORTH, TX 76244
Price :
$ 9,995,822
Cap Rate :
6.53%
NOI :
$ 653,207
Lot Size :
5.18 acres
Year Built :
2000
Property Area :
79,190 sqft
Status :
AVAILABLE
MARKETING PACKAGE

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

 

Investment Highlights

  • Fully Leased Multi-Tenant Warehouse with Staggered Expiration Dates Situated on 5 Acres
  • Highly Functional Asset: 21′-24′ Clear Heights, 11 Dock High Doors, Fully Sprinklered and Paved Outside Storage
  • Prime Location with Immediate Access to Interstate 35, Highway 377, Interstate 820 and Alliance Gateway Freeway
  • Attractive Class B Construction Priced Below Replacement Cost of Land and Improvements
  • Highly Visible and Easily Accessible Location with Daily Traffic Count of 24,295 Along Kroger Drive (CoStar)
  • Value-Add Opportunity to Increase Short-Term Lease to Market Rents

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 5650 Kroger Drive. The subject property consists of approximately 79,190 square feet of space and is situated on 5.18 acres of land. The subject property features attractive Class B construction priced below replacement cost of land and improvements. A highly functional asset, the property has 21’-24’ clear heights, 11 dock-high doors, paved outside storage, and is fully sprinklered. The multi-tenant warehouse is fully leased with staggered expiration dates. This is a value-add opportunity for a buyer to increase the short-term lease to market rent or an owner-user to occupy the space themselves. The asset is highly visible, easily accessible, and has a daily traffic count of 24,295 along Kroger Drive (CoStar). The property’s prime location provides immediate access to Interstate 35, Highway 377, Interstate 820, and Alliance Gateway Freeway.

The NE Tarrant/Alliance Submarket is dominated by Hillwood’s 26,000-acre, master planned AllianceTexas development. Alliance has emerged as one of Dallas-Fort Worth’s primary industrial nodes, featuring some of North Texas’s newest, most efficient warehouse product. The submarket has been one of the most active in the Metroplex in terms of new supply this cycle. Since 2010, the area has added over 17.7 million SF of new space, encompassing 14 percent of the industrial construction in the market during this period. With 10.1 million square feet of development currently underway, the area is showing no signs of slowing down anytime soon. The connectivity provided by the airport cannot be overstated. Amazon Air opened a regional hub, hiring 300 people to operate the facility. The Fort Worth Air Hub is located on the west side of the airport and will include a package sorting facility and the ability to handle multiple flights daily. The high proportion of big-box inventory in NE Tarrant/Alliance makes the submarket attractive to institutional investors, and buildings often change hands as part of national or multi-market portfolio sales. Over the past decade, the submarket has emerged as one of the premier industrial submarkets in the country. (CoStar)

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. © 2020 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0060109)

Exclusive Listing

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

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