Bickham Industrial Park Industrial FOR SALE


Dallas, TX - Koreatown/Gribble
$9,750,000 USD
214-274-8707
, Dallas, TX for Sale
$9,750,000 USD
Industrial - FOR SALE
1/16
null | 6.53% Cap Rate

Bickham Industrial Park
Dallas, TX
Koreatown/Gribble


HIGHLIGHTS

  • 88,597 SF value-add multi-tenant industrial asset in Dallas, TX
  • In-place rents of $8.02/SF NNN vs. market rents of $10-15/SF NNN
  • 10.35% Year-5 pro-forma cap rate and WALT less than 2.5 years
  • Positioned less than half a mile from I-35E, Loop 12 & W Northwest Hwy, in the West Hines North Submarket, approximately 20 minutes from Downtown
  • Highly functional buildings with 4,430 SF average suite size and 26 grade level doors
  • Submarket vacancy of just 4.8% and zero inventory growth, along with 6.9% forecasted submarket rent growth anticipated in 2025

OVERVIEW

Bickham Industrial Park (the “Property”) is an ±88,597 square foot value-add multi-tenant industrial asset positioned on 4.3 acres of land and located in the infill West Hines North Submarket of Dallas, Texas. The Property is situated on Bickham Road just a quarter mile south of W Northwest Hwy., providing convenient access across Dallas and to transportation infrastructure including I-35E, Dallas North Tollway, Central Expressway (U.S. Hwy 75), SH-114, among others. Built between 1968 and 1997, the Property consists of five, single-story industrial buildings that are 91.24% occupied with a Weighted Average Lease Term (WALT) of less than 2.5 years. The Property presents an exciting rental rate mark-to-market opportunity with average in-place rents for the occupied suites of just $8.02/SF NNN compared to market rents ranging from $10 to $15/SF NNN. By increasing rents to $10.50/SF NNN for suites with fenced outside storage, $12/SF NNN for spaces less than 3,000 square feet and $10/SF NNN for spaces 3,000 square feet and greater, the Property has the potential to achieve a pro forma cap rate of 10.35% in Year-5 of ownership. This value-add opportunity is further enhanced by strong current cashflow with an in-place cap rate of 6.53%. Additionally, the Property benefits from its excellent infill location within close proximity of transportation infrastructure including I-35E, Loop 12, 114, and W Northwest Hwy. Accessing these highways allows travel from the Property to most roof tops within Dallas County in less than 20 minutes. As a testament to the quality of the West Hines North Submarket, vacancy rates average just 4.8% with 2025 rent growth forecasted at 6.9%, according to CoStar Analytics. Average annual household income exceeds $97,492 and median home values are over $316,808 within a five-mile radius. Overall, Bickham Industrial Park offers a rare true value-add multi-tenant industrial opportunity coupled with an attractive 6.53% in-place cap rate and positioned in one of Dallas’ prominent infill industrial nodes.

ASK ABOUT THIS PROPERTY

Ty UnderwoodSLJ Company LLCMore Info
214-274-8707

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Ty UnderwoodSLJ Company LLCMore Info
214-274-8707

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.