Stream Realty Partners Announces Purchase of 123,800 Square Foot Industrial Property in Garland
DALLAS, January 29, 2021 – CanTex Capital acquires 2917 Oakland Street in Garland, Texas.
Posted in Deals & Announcements, North Texas Deals & Announcements, Red News, January 29, 2021
CanTex Capital, a Dallas-based real estate investment and development firm, has acquired 2917 Oakland Street in Garland, Texas. Stream Realty Partners’ Dallas office brokered the purchase of the 123,800-square-foot industrial property. Stream’s Dallas industrial team of Adam Jones and James Mantzuranis represented CanTex in the transaction, while Hal Penchan and Matt Troutt with Alt+Co represented the seller.
“We are actively investing in infill industrial buildings in the Dallas/Fort Worth market and it’s rare to find a 30-foot clear warehouse with a secure outside yard in an infill submarket,” said Romit Cheema, CEO of CanTex. “We like to focus on value-add opportunities and bring them to their full potential through capital improvements which meet market and user demands.”
CanTex sought to acquire 2917 Oakland Street, the highly functional value-add warehouse, to complement the adjacent 162,000-square-foot manufacturing and warehouse facility that CanTex recently acquired during the pandemic, located at 2900 W. Kingsley Road.
“This was a unique opportunity for CanTex to acquire an industrial property adjacent to another recently-acquired facility in their portfolio, allowing for an aggregation of over 17 contiguous acres in an infill industrial submarket with tremendous access to labor and major thoroughfares,” said Adam Jones with Stream’s industrial services division. “We were thrilled to have assisted one of our most active clients on another significant acquisition in this region.”
Additionally, Stream was able to identify a multi-national construction company, Hill & Smith, to occupy the entirety of the project. The new tenant is targeted to move in by the end of Q1 2021. Jones and Mantzuranis represented CanTex on both the purchase and lease, while Stream’s Eric Crutchfield represented Hill & Smith.