P.S.C. Properties, LLC., purchases 49,000-square-foot project in Garland, Texas
DALLAS (August 14, 2019) – Agarita Management Company, a San Antonio-based real estate investment firm, and Stream Realty Partners (Stream) – a national real estate development, services and investment firm, are pleased to announce the sale of the Executive Drive Industrial Portfolio to P.S.C. Properties, LLC.
The 49,320-square-foot, single-tenant, two-building portfolio is conveniently located in a premier infill location within the Garland industrial submarket, less than one mile from Interstate 635, with convenient access to the greater Dallas/Fort Worth metroplex via Interstate 30 and Central Expressway.
The Executive Drive sale demonstrates the high-demand from the investor and owner-user market for functional, shallow-bay industrial buildings in the DFW market. As land and construction prices continue to increase, buyers are aggressively pursuing well-located, infill assets that are available at a discount to replacement cost.
The DFW industrial market is the 5th largest in the United States, with a market-wide vacancy rate of 6.3%. The Northeast Dallas-Garland-Mesquite industrial submarket boasts a sub-3.1% vacancy rate for shallow bay product.