Halifax

Summary

3447 – 3441 Halifax Street, Dallas, TX

Halifax is a 4-building, 112,000 SF industrial portfolio located in the Brookhollow submarket of DFW. Developed in 1968, the property was run by a local family until Silverado’s acquisition in 2019. 

Key investment drivers include:

  1. Strong location within the Brookhollow industrial submarket.
  2. Four buildings with smaller suite sizes and different loading types.
  3. Opportunity for operational enhancements.
  4. Functional product that meets the needs of the submarket.
  5. Brookhollow industrial submarket draws strong interest from institutional capital.

Market Overview

West Brookhollow

West Brookhollow is between the Dallas Central Business District and the DFW International Airport. The submarket is bisected by Texas State Highway 183, which connects several highways traveling in all directions through the metroplex. While West Brookhollow is one of the largest submarkets in the metroplex by inventory, most of its stock was built before the 1980s, and most buildings lack the specifications necessary for modern distribution or e-commerce operations. Therefore, manufacturers, suppliers, or local distributors will continue to drive demand.

Most of the tenant movement in the West Brookhollow involves manufacturers, wholesale retailers, home fabrication firms, and auto parts distributors. The submarket’s lack of new space limits its upside in terms of attracting major distributors, 3PLs, and e-commerce firms. Most deals in the submarket are for tenants taking less than 100,000 SF, and a high proportion of firms own their own space.

Operating Partner 

Old House Capital

Nick Cassavechia is the founder/CEO of Old House Capital, which is a private investment firm focused on commercial real estate based in Dallas, Texas.

Prior to starting Old House Capital, Nick was the Chief Operating Officer and Partner at Frontier Equity. At Frontier Equity, Nick oversaw their industrial investment fund, all acquisition and development initiatives and their portfolio. During his time at Frontier Equity, Nick invested in $120 million of acquisitions, $65 million of developments, and $65 million in dispositions.

Prior to Frontier Equity, Nick spent three years at Quadrant Investment Properties (QIP) focusing on acquisitions, dispositions and capital markets. Between 2014 and 2016 at QIP, Nick played an integral role in acquiring more than 1.1 million square feet of office properties totaling more than $250 million. During this time, Nick was a part of starting Quadrant Finance Partners (QFP), a $130 million debt fund that Nick currently is involved with as an advisory board member and on the credit committee.

Before joining QIP, Nick was a senior analyst on the investment sales team at HFF, where he participated in more than $1 billion of investment sale and debt/equity transactions.