Dalfen Industrial has acquired a 100% occupied, 98,666 square feet property in West Fort Worth. The property is next to the Lockheed Martin Aeronautics headquarters. This is the second acquisition in Fort Worth in the last nine months.
Built in 2017, West Tarrant Distribution Center is located at 1403 S Cherry Lane in White Settlement. The property is in close proximity to Loop 820 as well as Interstate 30. The asset is located in the West Tarrant County industrial submarket, adjacent to one of the top performing submarkets in Dallas-Fort Worth.
“Fort Worth has seen tremendous population growth, which is predicted to continue as more companies and people relocate to DFW from out of state,” said John Lettieri, Market Officer at Dalfen Industrial. “The property is one of the few modern Class A buildings in the West Fort Worth submarket and has great access to major thoroughfares, a robust workforce, and over 1.6M people within a 30-minute drive.”
“A Class A asset in an irreplaceable location directly adjacent to one of Lockheed Martin’s most significant manufacturing facilities makes this asset a natural fit for our rapidly growing DFW portfolio,” said Sean Dalfen, President & Chief Investment Officer at Dalfen Industrial.
Between existing buildings and properties under development, Dalfen Industrial has approximately 7 million square feet of last mile industrial assets in Texas.
In October 2020, Dalfen Industrial announced the purchase of over 1 million square feet in Fort Worth in addition to properties in Schertz. That comes on the heels of selling its recently developed less-than 1 million square foot assets at Dallas Fort Worth International Airport.
The buildings it acquired then were five last mile industrial buildings in major Texas markets: Mark IV Commerce Center in Fort Worth and Tri-County 5 & 7 near San Antonio.
Built in 2020, Mark IV Commerce Center is a newly constructed, Class A, three-building, 1,025,500 square foot industrial park located at the intersection of I-35 and I-820. This area, known as the Alliance corridor due to its close proximity to Alliance Airport, is one of the fastest growing submarkets in the Dallas/Fort Worth metroplex. It is also near both the DFW Airport and the Meacham International Airport. AER Manufacturing has leased 80,660 square feet of one building, and, due to the exceptional location and all the latest specifications tenants desire, Dalfen has experienced tremendous interest to lease the remainder of the buildings in the next few months. Major companies in this area include Amazon, BNSF Railway, Fedex, Grainger, PepsiCo, FritoLay, Ryder, and XPO Logistics.
Built in 2016, Tri-County 5 & 7 is a two-building asset totaling 211,950 square feet. These buildings are located off of I-35 in Schertz between the San Antonio MSA and Austin MSA, providing the opportunity to service 3.5 million people. Tri-County 7 is 100% leased by SEKO Logistics, and Boss Products. Tri-County 5 is 49.6% leased.
Dallas-based 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.