Dalfen Industrial continued its Dallas-Fort Worth industrial asset buying spree with the purchase of the 396K SF Peachtree Distribution Center in Mesquite.
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Dalfen acquired the property at 510 North Peachtree Road from Clarion Partners, gaining a key distribution hub within a few minutes' drive of Interstate 635.
The 19-year-old building is positioned as a last-mile, e-commerce distribution hub. It has 68 loading docks and ample parking spaces for cars and trucks and is 100% leased to Dal-Tile Corp., Parker-Hannafin Corp. and Bronco Orora.
“Adding Peachtree to our other two properties in the submarket (as well as one large property under development), Dalfen views this submarket as a perfect last mile location to service the rapidly growing north and east Dallas suburbs,” Dalfen Market Officer Kevin Caille said in a statement.
The DFW industrial market is red-hot and still attracting absorption activity in the wake of the coronavirus outbreak. Third-quarter research from CBRE shows the DFW area clocked its 40th consecutive quarter of positive net industrial absorption, with 6.7M SF consumed last quarter.
In the midst of the pandemic, the Q3 vacancy rate for DFW also remained flat over the previous quarter, while product absorption held strong with nearly 22.3M SF of industrial under construction last quarter and 18.3% already pre-leased, according to CBRE.
CORRECTION, DEC. 4, 1:20 P.M. CT: A previous version of the story listed the wrong address for the recent Dalfen industrial purchase in Mesquite. The story has been updated.
