Shopoff Realty Buys Dallas Industrial Portfolio
DALLAS, January 10, 2023 – Mavik Capital Management provided more than $67 million in acquisition financing.
By Jordana Rothberg, Commercial Property Executive, January 10, 2023
CanTex Capital has sold five industrial properties totaling 689,497 square feet in the East Dallas submarket, with the assistance of JLL. Public records show Shopoff Realty Investments acquired the fully leased portfolio in separate transactions, financing the purchases with notes totaling $67.6 million from Mavik Capital Management.
The Class B, shallow bay facilities include:
11221 Pagemill Road in Dallas, a 80,041-square-foot property that was completed in 1980, according to CommercialEdge data. The manufacturing facility is fully occupied by Airflow Systems.
11333 Pagemill Road in Dallas. The sole tenant of this 127,725-square-foot manufacturing building, completed in 1978, is Adco Industries.
2917 Oakland Ave. in Garland, Texas. Built in 1970, the industrial property comprises 123,800 square feet across two buildings.
1515 Big Town Blvd. in Mesquite, Texas. The 215,271-square-foot asset came online in 1980 and is occupied by ProLift Rigging for warehouse and distribution purposes.
3914-3920 U.S. Highway 80, also in Mesquite.
The warehouses feature 18- to 30-foot clear heights and varying loading types, as well as trailer and car parking. Across some 47.4 acres total, the properties are close to Dallas-Fort Worth’s primary commercial hubs and main highways.