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Cohen Asset Administration has bought a newly constructed 698,880-square-foot industrial facility at 1700 N. Goode Street in Wilmer, Texas. Cohen acquired the asset from its earlier proprietor, which CommercialEdge lists as Scannell Properties.
Constructed on 37 acres, the newly acquired property was accomplished in 2022. The ability is topic to a $35 million mortgage, supplied by Pinnacle Monetary Companions.
The advanced has a 40-foot clear top, 185-foot truck courts, 56-foot by 50-foot column spacing and mechanical loading doorways, based on CommercialEdge data. The ability is located alongside Interstate 41, inside 15 miles of central Dallas and inside 40 miles of Fort Price, giving it fast trucking and transport entry to each cities.
Over the previous two years, Cohen has been an lively investor in almost all the nation’s gateway industrial markets, with a portfolio totaling 98 properties and 14.2 million sq. ft, half of that are within the Dallas-Fort Price market. Practically 96 p.c of the agency’s property are underneath lease, based on CommercialEdge. In October, Cohen had bought one other lately constructed 568,632-square-foot logistics facility in Roanoke, Texas. In July, the agency acquired The Touchdown 3, 4, and 5, a nine-building portfolio totaling 858,900 sq. ft in Mesa, Ariz.
Dallas’ industrial domination
The Dallas-Fort Price metro stays one of many nation’s largest and most sought-after markets within the nation for industrial improvement and leasing, as the world has 62 million sq. ft underneath building, along with a emptiness price of three.5 p.c, based on knowledge from an October 2022 CommercialEdge report. Behind solely 4 markets by way of gross sales exercise, the metro has seen $3.5 billion in whole transaction quantity year-to-date as of September, with a mean per-square-foot gross sales value of $102.
