DALLAS, Nov. 22, 2021 /PRNewswire/ -- Dalfen Industrial announced the acquisition of a 169,700 square foot industrial property in Irving, TX ? a suburb just east of Dallas/Fort Worth International Airport. Built in 2014, Century Center is 100% occupied by three tenants.
This property has excellent last mile fundamentals with its close proximity to DFW International Airport and Dallas/Love Field. It connects to both Dallas and Fort Worth, a market of nearly 8 million people, through thoroughfares such as Interstate 35, Loop 12, Hwy. 114, and Hwy. 183. Other tenants in the area include Fedex, UPS, PepsiCo, Dr. Pepper, Frito Lay, and Southwest Airlines. This submarket consists of mostly older, less functional product, making this Class A asset extremely unique in the area.
"Century Center is a great addition to our Dallas/Fort Worth portfolio. This acquisition was sourced off-market and purchased below replacement cost with below market rents," said John Lettieri, Market Officer at Dalfen Industrial.
"Dallas is one of the most vibrant and fastest growing markets in the country," said Sean Dalfen, President and Chief Investment Officer at Dalfen Industrial. "Every asset we buy and develop here improves our overall portfolio significantly."
With this acquisition, Dalfen Industrial owns nearly 3 million square feet in Dallas/Fort Worth with more than 2 million square feet of new properties in development.
Dalfen Industrial is one of the nation's largest buyers and developers of industrial real estate and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen currently owns and operates millions of square feet of premier industrial properties throughout the United States.
SOURCE Dalfen Industrial
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