This was a unique opportunity to acquire a two-property portfolio of truck trailer storage with shallow bay industrial. DFW Truck Centers, consisting of Manana (Dallas) and Mark IV (Fort Worth), are a 2-property, truck-center facility and trailer storage portfolio located in Dallas and Fort Worth. The Portfolio includes 5 buildings totaling 135,000 square feet of rentable space, in addition to 468 trailer parking spaces. The buildings are currently 95% leased and the trailer storage is 52% leased. With strategic, well-positioned locations, the Portfolio has excellent access in Dallas via I-35 / Northwest Highway and I-820 / I-35 in Fort Worth.
Investment highlights:
- Strong in-place yield with value-add potential via leasing up the vacant trailer storage and pushing rates.
- Demand and limited supply for this product, proven by the Portfolio’s historical performance.
- Minimal capital expenditures providing strong cash-on-cash returns.
- Recently-built buildings (2008 / 2009) and institutionally owned.
- The trucking industry transports 70% of U.S. freight, which is expected to increase 35% over next 10 years.
- Well-located, in-fill industrial markets within Dallas / Fort Worth.