CBRE announced the sale of Sunridge II, a 698,880-square-foot Class A+ distribution center, located at 1700 N. Goode Road in Wilmer, Texas. Cohen Asset Management purchased the property from Scannell Properties for an undisclosed price.
Delivered in 2022, the property is strategically located off I-45 and approximately one mile from the Union Pacific Intermodal Terminal. Built with market-leading specifications, the distribution center features 40-foot clear highs, cross-dock configuration, 138 dock doors, four drive-in ramps and an ESFR sprinkler system. In addition to the distribution space, the property includes 10,000 square feet of office space (making up 1.4% of the total property).
According to CBRE’s Q3 2022 Industrial MarketView, the South Dallas submarket remained the most sought-after area for industrial users across the metroplex with nearly 2.2 million square feet of net absorption in Q3 and 8.4 million square feet year to date (YTD). Despite the 30.2 million square feet of new deliveries in 2022, there has been 27 million square feet of leasing activity, leaving the direct vacancy rate for the metroplex at 4.9%.