CBRE National Partners Arrange Sale of 616K-SF, Class A+ Industrial Business Park in South Dallas

CBRE National Partners announced the sale of TCC Altamoore, a Class A+ industrial park located at 9280, 9186 and 9190 Van Horn Drive in Dallas. KKR purchased the 387,838-sq.ft. three-building asset from Trammell Crow Company for an undisclosed price.

Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller.

Built in 2021, Building 1 (298,168 sq. ft.) and Building 2 (206,917 sq. ft.) have both been fully leased by large, publicly traded companies. Building 3 (110,960 sq. ft.) is still being marketed to prospective tenants. TCC Altamoore has close proximity to vital transportation arteries across the metroplex and is located less than two miles from I-20 and approximately four miles from I-35E and I-45.

“South Dallas continues to be one of the most sought-after industrial submarkets in the country because of its excellent connectivity and expansive blue-collar labor pool,” said Ryan Thornton, executive vice president with CBRE. “There was significant interest from investors in TCC Altamoore because of the overall DFW market fundamentals coupled with the limited supply of Class A+ industrial product.”

According to CBRE’s Q1 2022 Industrial MarketView, there were 7.7 million sq. ft. of new industrial product delivered in Q1, raising the overall vacancy rate to 4.8%. The construction pipeline set new records with the 57.3 million sq. ft. of product under construction, which should alleviate tight vacancy rates across the metroplex.