July 8, 2019— Dallas-based MoxieBridge, a private equity real estate investment firm, announced the acquisition of three industrial properties totaling 168,600 square feet in Dallas, Fort Worth and Grand Prairie. The portfolio consists of seven buildings on 35 acres that were constructed from 2006 to 2009 and include a total of 560 trailer spaces and 34 tenant suites. The tenant suites in the portfolio are 100% leased.
The portfolio was originally designed to uniquely cater to businesses that serve the trucking industry. One of the key features is an abundance of trailer parking available across the three properties. Another interesting element is the unique design of the buildings, which have 14-foot over-head doors on both sides allowing for a full tractor or trailer to pull through. The portfolio includes a large infill land presence in the middle of mature industrial parks, making the for-lease parking business very valuable.
“This type of industrial space with the parking component is in high demand in the D-FW market, and is a trend that shows no signs of slowing down. North Texas is delivering more than 20 million square feet of new warehouse space each year creating a lot of new demand for the trucking business as well,” said Travis Ward, principal at MoxieBridge. “In acquiring this portfolio, MoxieBridge distinguishes itself from the competition, the majority of which has only one or the other – trailer parking or building space.”
The properties are strategically located near DFW International and Dallas Love Field airports. They have also recently undergone a variety of upgrades, including concrete and asphalt work, parking space striping and numbering, outdoor LED lighting and security upgrades.
In Dallas, the Manana Drive property is strategically located in the Stemmons industrial submarket near I-35, I-635, SH-183 and SH-114, four of the most important traffic arteries in the D-FW Metroplex. The property consists of three buildings totaling 67,500 square feet and includes 346 trailer storage parking spaces.
Located in the Meacham Field/Fossil Creek submarket of Fort Worth, the Mark IV property consists of two buildings totaling 67,500 square feet and includes 116 trailer parking spaces. This property is located at the most important logistics intersection in North Fort Worth, with neighbors that include FedEx, USPS, DHL and BNSF.
The High Prairie property of Grand Prairie is centrally located in the Great Southwest Industrial District, 2 miles from the southern entrance to DFW International Airport. The property consists of two buildings totaling 33,600 square feet and includes 98 trailer parking spaces.
“The industrial market in Texas remains strong as the need for logistics, last-mile and same-day delivery continue to grow,” said KC Kronbach, co-founder of MoxieBridge. “We are actively looking for industrial investment opportunities in strategic infill locations within Dallas and Houston.”
This deal marks MoxieBridge’s third industrial acquisition since launching in 2018. Earlier this year, the company acquired Stoneridge I, II and III, which has a total of 171,000 square feet of industrial space in Dallas. In 2018, MoxieBridge acquired a 30,000-square-foot single-tenant industrial property in Houston, situated on 5 acres.
The company currently owns more than 1.3 million square feet of industrial, residential and office space in Dallas and Houston.