Dallas investor grabs industrial properties near Airport Freeway
DALLAS, February 8, 2023 - CanTex Capital makes largest recent purchase near Brookhollow district.
By Steve Brown, Real Estate Editor, The Dallas Morning News, February 8, 2023
A Dallas-based commercial property investor has snapped up three Dallas industrial buildings near Airport Freeway.
The buildings CanTex Capital purchased on Grauwyler Road include more than 313,000 square feet on almost 51 acres.
The sale is one of the largest recent transactions near Dallas’ Brookhollow industrial district, according to brokers with NAI Robert Lynn who handled the sale.
“The D-FW Metroplex continues to see increasing demand for industrial space, and Brookhollow has become one of the most highly desirable submarkets,” Romit Cheema, CEO and principal of CanTex Capital, said in a statement. He said this kind of purchase “only comes up once a decade, so we’re excited for this sizeable addition to our Brookhollow portfolio.
“We are looking forward to continuing to grow our industrial footprint in D-FW.”
The investor previously purchased two nearby industrial buildings in late 2021.
In 2022, CanTex Capital acquired 2.3 million square feet of industrial properties in North Texas. Last year, the investor sold a handful of its area buildings.
The Grauwyler Road buildings are fully leased.
CanTex Capital partnered on the transaction with Canada-based Nicola Wealth Real Estate, a financial planning and investment firm.
“Infill industrial land is becoming increasingly difficult to come by in D-FW, especially in a highly coveted, low vacancy market like Brookhollow,” NAI Robert Lynn’s Chase Miller said.
Since 2018, CanTex Capital has purchased more than 5 million square feet of industrial real estate.
More than $4 billion in D-FW industrial properties were sold in 2022.