By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.
- Single Tenant Net-Leased Industrial Property to Praxair (NYSE: PX)
- 11.75% Unleveraged Cap Rate Year One
- Build-to-Suit Facility in 1999
- Located on Forest Lane: 31,824 Vehicles Per Day
Marcus & Millichap is pleased to present the opportunity to acquire Praxair located at 1960 Forest Lane in Garland, Texas. The subject property consists of an approximately 8,000 square foot metal building and is situated on 2 acres of land. Built in 1999, the subject property was a build-to-suit facility for Garland Welding Supply, who later sold to Praxair. Located on Forest Lane, Praxair is reported to have over 31,820 vehicle counts per day. With over 11,000 businesses in the area, Garland prides itself on the 16,000 jobs on behalf of the Garland Economic Development Partnership and healthy economic climate. Major employers in Garland include: GISD, Kraft Foods, US Food Service, Atlas Copco, SilverLine Window, and Hatco (Resistol).
Praxair, Inc. is a leading industrial gas company in North and South America and one of the largest worldwide. With market capitalization of approximately $40 billion and 2017 sales of $11 billion, the company employs over 26,000 people globally and has been named to the Dow Jones® World Sustainability Index for 15 consecutive years. Praxair produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Their products, services and technologies are making the planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, primary metals and many others. For more information about the company, please visit their website at www.praxair.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 metro’s 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.