Duong Investment Group

1336 South Irving Heights Drive

1336 South Irving Heights Drive, TX 75060

Property Description

Price: $3,378,000
Price Per/SF: $153.55
Land Area: ±2.34 Acres (±101,886 SF)
Cap Rate: 4.64%
Gross Leasable Area: ±22,000 SF
Year Built: 1967

Investment Highlights

Low Rents Per SF of Just $7.13 (More Than 50% Below Market) | 7.82% Pro Forma Cap Achievable at 75% of Market Rent

New 20-Year Roof Membrane Worth $127,000 Installed in 2021

Strategic Location – Centrally Located Within the Dallas/Fort Worth Metro (Over 1,000,000 People in a 10-Mile Radius)

 

Strong Corporate Guarantee

  • Tenant has Over 360 Locations Across 30 Countries with More Than $5 Billion in Annual Revenue
  • Tenant is an Industry-Leading Global Provider of Access and Scaffolding Systems, Forming, Shoring, and Industrial Services to the Industrial, Commercial, and Infrastructure Markets
  • Tenant was Valued at $6.7 Billion in 2019 when Brookfield Business Partners (NYSE: BBU) Acquired 45% of the Company
  • Double Net Industrial Property – Minimal Landlord Responsibilities, Which is Ideal for Investors not Local to the Market

 

Strong Real Estate Fundamentals

  • Dense, Infill Trade Area Just West of Downtown Dallas – Population Counts Exceed 210,000 Residents Within a 5-Mile Radius
  • Value Add Opportunity – Below Market Rents of $7.13 PSF with No Options Giving New Landlord Upside in Negotiation
  • Located On Highway 12 with Excellent Exposure – Traffic Counts Exceed 132,000 Cars Per Day and the Subject Property Features Unmatched Access to Interstate 35E, Interstate 635, Loop 12, and Highway 183
  • The Subject Property Offers Direct Access to Over 7 Million People and the Largest Business Hubs Within the DFW Metroplex
  • Located in an Industrial Area with other National Brands such as United Rentals, Landmark Equipment, Estes Express Lines, Ahern Rentals, and Many More
  • Dallas/Fort Worth is a Top-Ranking MSA for Overall Population Growth in a Metro Area with 97,290 New Residents Between July 2020 and July 2021

 

Broker of Record: Tim Speck, Lic. 9002994

Contact Information

James Andrews
Associate
Net Leased Properties Group
(949) 419-3302
james.andrews@marcusmillichap.com
License: CA 02115272

Craig Elster
Vice President Investments
Director, Net Leased Properties Group
(949) 419-3223
craig.elster@marcusmillichap.com
License: CA 01958307

Ron Duong
Senior Managing Director Investments
Senior Director, National Retail Group
(949) 419-3233
ron.duong@marcusmillichap.com
License: CA 01438643