April 21, 2021
26.7 acres off-market acquisition and 22 acres for Greenfield Development
Triten Real Estate Partners (TREP) has expanded their nationwide Industrial Service Facility (ISF) portfolio with a recent off-market acquisition and another under contract in South Dallas. Triten Real Estate secured a $150 million investment from an institutional investor earlier this year and has plans to continue to buy $400 million of ISF properties across the country in the next three years.
Triten acquired a 26.7-acre, multi-tenant site permitted for trailer parking and outdoor storage located at 1000 Fulghum Road in South Dallas. The property is located directly on I-45 frontage, is visible to 90,000 vehicles per day and is less than a mile from the Union Pacific Dallas intermodal with direct ingress and egress to the railyard. Triten is actively seeking and expanding on the current list of existing tenants at 1000 Fulghum with more first-tier opportunities. Currently IMC Companies, Central States, Contract Freighters, Frigid International, and AFS Intermodal lease at the site, and there is an additional 9-acre parcel available for lease.
Along with the off-market acquisition, Triten is in process of stabilizing an additional 22 acres of land on Pleasant Run Road, located less than 2 miles south of 1000 Fulghum. The site is planned for paved concrete stabilization and is permitted for truck parking and outdoor storage and estimated to deliver in 3Q 2021.
“Triten is very active in the South Dallas submarket where we currently own over 60-acres and are in the process of developing more,” says Ross Graves, Director at Triten Real Estate Partners. “As we expand across to major logistics markets around the country, Triten will continue to greenfield develop to fill the gap between availability and demand for ISF assets.”
With over 4 million square feet of industrial warehouse space currently under construction and the exponential growth and demand of trucking, logistics and intermodal users, South Dallas is one of the fastest-growing industrial markets in the U.S.
Ross Graves and Charles Lintakoon of Triten Real Estate Partners managed the transaction for both landlord and buyer.
Chris Teesdale and Ward Richmond of Collier’s assisted in the leasing of the South Dallas locations.
In addition to ISF, Triten is looking to expand its traditional industrial footprint and team in the Dallas/Fort Worth area. For inquiries and opportunities, please email email@example.com for more information.