For Immediate Release
July 7, 2020
Triten Real Estate Partners (TREP) continues to expand its nationwide Industrial Service Facility (ISF) portfolio with an off-market acquisition in the metro Dallas area. One of few real estate investment companies in the Nation focused on the acquisition, development and re-development of Industrial Service Facilities (ISFs), TREP has purchased an industrial logistics facility with trailer parking and storage located at 7240 North I-35 East in Waxahachie, Texas formerly leased by Celadon Trucking.
7240 North I-35 East sits on 29.2 acres and includes a 33,000-square-foot industrial service facility, trailer maintenance bay, and 18-acres of stabilized trailer storage yard and parking. The property is located directly on I-35 frontage with excellent access and traffic counts of over 80,000 vehicles per day. I-35 is the critical interstate for logistics transiting between the U.S. and Canada/Mexico with significant demand for trailer parking and other logistics.
The property is 85 percent pre-leased to USA Truck (NASDAQ: USAK) a publicly-traded transportation company.
“The former Celadon service facility is a great addition to our ISF portfolio, and we look forward to working with USA Truck as they continue to expand their network across the US,” says Charles Lintakoon of Triten Real Estate Partners. “Triten remains focused on aggregating and developing a diversified portfolio of Industrial Service Facilities that is critical to the backbone of the US economy.”
TREP is an active buyer of Industrial Service Facilities (ISF) across the country. ISFs are location critical facilities used to store, maintain and dispatch equipment and/or bulk material. They are primarily used by the transportation, logistics, construction, and manufacturing industries. TREP continues to actively seek out these types of acquisitions in Texas and across the nation.
Ross Graves and Charles Lintakoon of Triten Real Estate Partners managed the transaction for both landlord and buyer.