Harbor Capital Buys Arlington, Texas, Industrial Property in Tight Submarket

[ad_1] Texas-based industrial actual property funding agency Harbor Capital not too long ago introduced the acquisition of a lightweight industrial park positioned close to the extremely fascinating Nice Southwest submarket of Arlington, Texas.

The vendor was industrial actual property platform Fort Capital, which is now a part of nationwide vertically built-in actual property funding supervisor S2 Capital. Stream Realty’s Capital Markets staff brokered the sale, engaged on behalf of the vendor. In the meantime, S2 Industrial Property Administration has been engaged to handle the property going ahead.

Situated at 923 W. Mayfield Highway, the property encompasses greater than 190,000 sq. ft of Arlington flex industrial area throughout 4 buildings. Initially accomplished round 1960, the property — dubbed Shoreline Enterprise Park — consists of 4 shallow-bay industrial buildings that have been 100% leased on the time of sale and is residence to fifteen various tenants.

Strategically positioned in some of the supply-constrained industrial corridors within the Dallas–Fort Value metroplex, Shoreline advantages from direct entry to main highways and straightforward connectivity to the area’s rooftops, logistics infrastructure and labor base.

Situated in a good market and reportedly acquired at a major low cost to alternative price, Shoreline Enterprise Park got here with long-term worth alternatives that Harbor Capital plans to take advantage of. Particularly, following the acquisition, Harbor introduced plans to implement a centered capital enchancment technique, make choose property upgrades geared toward supporting tenant renewals, and place the asset to seize market lease progress.

Headquartered in Austin, Texas, Harbor Capital specializes within the acquisition and operation of high-conviction industrial belongings throughout main metros and commerce corridors within the state. With a powerful concentrate on value-add alternatives in growth-oriented submarkets, the Harbor funding technique targets class A and B warehouse, manufacturing and industrial out of doors storage properties that supply compelling, risk-adjusted returns.

In line with our most up-to-date industrial markets report, the Texas Triangle is taking a look at a brand new wave of business enlargement as provide pipelines in Dallas–Fort Value and Houston have roughly doubled year-over-year: Industrial property gross sales closed in the course of the first six months of the yr added as much as greater than $1.6 billion — the second-largest year-to-date whole within the nation, simply behind New Jersey.

Earlier Story:Industrial Gross sales Stay Stage Regardless of Headwinds Concerning the Creator / Ioana Ginsac Ioana Gînsac is a artistic author masking all-things-CRE for a number of Yardi community publications. Matters embrace business information and market studies, in addition to sustainable improvement, structure, urbanism, and extra. Her work has been referenced by publications together with AmericanInno, Bisnow, BusinessInsider, Industrial Property Government, Curbed, Quick Firm, Forbes, GlobeSt.