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Opportunity
Stream’s investment client Heitman sought to invest in a core industrial development product in the Dallas–Fort Worth market. Heitman’s investment strategy required a long-term tenant in the project, stabilizing the asset at a cap rate above purchase opportunities on the open market.
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Strategy
The client’s goals necessitated that Stream identify the land, purchase the infill land site, design and deliver the completed shell and secure a long-term tenant for the asset. Stream located a land site within the Grand Lakes Business Park, zoned industrial dirt, with I-30 frontage affording access to both Dallas and Fort Worth.
Results
Acting as project point, Stream delivered an infill, speculative development with a 9-month construction timeline to meet Heitman’s investment requirement. Stream pre-leased the entire facility to Wheel Pros, prior to construction completion. Heitman completed acquisition of the completed building in October with Wheel Pros slated to take occupancy in January.
