Dalfen Industrial has acquired Peachtree Distribution Center from Clarion Partners at 17745 Lookout Road in the east Dallas suburb of Mesquite, Texas. Terms of the deal were not disclosed.
Constructed in 2001, the property is a 396,750-square-foot, cross-dock, multi-tenant distribution facility within a minute drive of I-635—the loop around Dallas—as well as I-30, I-80 and the Mesquite Airport. The property includes 68 docks, ample car and trailer parking space and is 100 percent leased to three internationally recognized tenants–Dal-Tile Corp., Parker-Hannafin Corp. and Bronco Orora.
“This acquisition is squarely within our strategy of focusing on infill in key markets,” said company president and chief investment officer, Sean Dalfen. “Dallas-Fort Worth has one of the strongest industrial markets in the nation, and the East Dallas Mesquite submarket is one of the best due to location, workforce and proximity to major highways.”
The East Dallas Mesquite industrial submarket is a longstanding transportation center and is home to one of Dallas-Fort Worth’s major intermodal hubs for industrial development, attracting the undeniable attention of institutional investors and large-cap companies.
“Adding Peachtree to our other two properties in the submarket (as well as one large property under development), Dalfen views this submarket as a perfect last mile location to service the rapidly growing north and east Dallas suburbs,” said Kevin Caille, market officer for Dalfen.
With this acquisition, Dalfen Industrial currently owns and operates over 4.4 million square feet of last mile industrial assets in Texas and over 24 million square feet nationwide.
