CenterSquare acquired the Metropolitan Infill portfolio, a two-building, 86,388-square-foot Service Industrial portfolio in the Carrollton and Addison submarkets of Dallas.
The portfolio was acquired on behalf of a Midwest public fund investor.
The 100% occupied portfolio offers aggregate construction, suites averaging approximately 5,400 square feet, 12’-16’ clear heights, and a mix of dock-high and grade-level loading.
The portfolio is in infill, densely populated submarkets of Dallas, adjacent to major thoroughfares, affluent rooftops and demand drivers including Addison Airport. The business plan focuses on bringing rents up to market levels and enhancing the appeal of the properties with exterior upgrades.
This transaction is CenterSquare’s first Service Industrial acquisition in the Dallas MSA, bringing our total Service Industrial portfolio to almost 1.8 million square feet. The investment represents the expansion of an existing Separately Managed Account relationship with a core plus risk profile focused on building an enduring, high-quality portfolio of properties in strong growth markets that generate cash flow and appreciate over time.
