Stream Realty Brokers Sale of Dallas-Area Industrial Facility

By Sergiu Inizian, Commercial Property Executive, January 28, 2021

CanTex Capital, a Dallas-based real estate investment firm, has acquired a 123,800-square-foot industrial property in the Metroplex. Stream Realty Partners represented the buyer, while Alt+Co assisted the seller, Carroll Co.

Built in 1960, the facility features 28-foot clear heights and 173 parking spaces. The new owner plans to invest in capital improvements at the property.

Stream also arranged a full-building lease with Hill & Smith. The international infrastructure company is set to move in at the end of the first quarter. Stream Vice President Eric Crutchfield represented the tenant.

Located at 2917 Oakland St. in the Garland submarket, the property is just off Interstate 635. CanTex also owns 2900 W. Kingsley Road, an adjacent 162,000-square-foot warehouse. Both assets are within 12 miles of Dallas Love Field Airport and 11 miles of the metro’s downtown—which saw the closing of one of the largest transactions in the Dallas-Fort Worth metropolitan area in the final quarter of 2020, according to a Cushman & Wakefield market report. In November, Westmount Realty Capital and a DRA Advisors-managed fund sold a 1.1 million-square-foot cold storage facility located alongside Interstate 635.

Stream Vice Presidents Adam Jones and James Mantzuranis assisted CanTex in the purchase and lease transaction. Alt+Co’s team included Vice President Hal Penchan and Senior Associate Matt Troutt. Earlier this month, Stream represented the seller of a 104,427-square-foot office property in West Dallas.

The Metroplex’s industrial market remained fairly active throughout 2020, with demand largely driven by the e-commerce boom as well as strong fundamentals—despite pandemic-induced logistical hurdles, such as conducting in-person meetings or getting appraisers to properties. According to CommercialEdge, the market’s total industrial sales volume in 2020 reached $1 billion.