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Dalfen Industrial purchased 45.8 acres in Mesquite on the south side of Kearney Street, west of Highway 352.
“This deal is further proof that properly zoned industrial tracts with utilities are in demand,” said Younger Partners broker John St. Clair, who represented the seller. “This parcel is well-positioned to the major highways and the area has a good future employment base.”
The acquired land is close to the Skyline Logistics Hub, an industrial park that houses 75 businesses, including Union Pacific Railroad, Pepsi Bottling Group, the United Parcel Service ground sorting center, Fritz Industries and Benjamin Moore Paint.
A Pep Boys Distribution Hub also sits adjacent to the undeveloped acreage.
Mesquite is considered a strong industrial base and an attractive prospect for Dalfen as the firm continues to grow its portfolio of industrial buildings throughout DFW and the nation.
“The East Dallas/Mesquite industrial submarket has shown healthy market fundamentals with new supply and demand in balance,” St. Clair said.
Net absorption in the past year in the East Dallas/Mesquite submarket hit 1.3M SF, St. Clair said. That compares to 1.4M SF during the same time frame a year earlier.
The East Dallas/Mesquite market has 1.2M SF under construction, and robust demand has pushed rents upward, with industrial rates 5.6% higher than last year, St. Clair said.
The price of this transaction was not disclosed.
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