TRANE (TYLER, TX)
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- Single Tenant Net-Leased Industrial Distribution Plant with Trane Heating & Air Conditioning
- Fully Air Conditioned and Sprinkled Warehouse With 68 Total Docks and 15’-26’ Clear Heights
- High Commitment to the Site: Recent Tenant Expansion by Trane to Fully Occupy the Entire Duncan Street Facility
- Subject Distribution Center Located 7.2 Miles from Trane’s Largest Residential Manufacturing Plant in the North Americas
- Limited Ability for Tenant to Relocate: Only Four Total Properties (All Fully Leased) in Tyler, TX and Surrounding Markets Over 500,000 SF (CoStar)
- Ingersoll Rand Inc (NYSE: IR) Parent Company of Trane Manufacturing Total Revenues in Excess of $14.2B in 2017
Marcus & Millichap is pleased to present the opportunity to acquire Trane at 1710 East Duncan Street in Tyler, Texas. The subject property consists of approximately 536,141 square feet and is situated on 36.9 acres of land. The property is fully air conditioned and sprinkled with 68 total docks and 15’-26’ clear heights. There is a high commitment to the site, as single tenant Trane (Ingersoll Rand Inc as parent company) recently expanded to fully occupy the entire Duncan Street facility, and the subject distribution center is located 7.2 miles from the company’s largest residential manufacturing plant in the North Americas. Estimated population of Tyler, Texas is over 105,000 with a higher millennial population than the state average. Since 1989 and the implementation of the Tyler Economic Development Council, the city has gained 8,265 new jobs, retained 11,556 jobs, and added over $638 million in new investments.
Trane serves engineers, contractors and building owners on all continents and in an array of markets including education, healthcare, government, industrial/manufacturing, data centers, lodging, retail and commercial real estate. With more than 900 U.S. patents to date, Trane creates comfortable and energy-efficient environments around the world. Renowned landmarks such as New York’s Grand Central Station and the Burj Khalifa tower in Dubai all enjoy the comfort provided by Trane solutions. Their people and their family of brands at Ingersoll Rand, including Trane®, Club Car®, Ingersoll Rand® and Thermo King®, work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; and increase industrial productivity and efficiency. Trane is a $12 billion global business committed to a world of sustainable progress and enduring results.
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 areas extensive network of rail and highways along with the International Inland Port of Dallas ensure its status as a distribution hub. Texas as a whole has added more than 350,000 jobs in the past year and is home to company giants including AT&T, ExxonMobil, and Dell.