One of the largest tortilla manufacturers in the U.S. has purchased more than 200K SF of industrial space near the southern edge of Dallas.
:quality(75))
Ole Mexican Foods, the company behind the La Banderita tortilla brand, bought the Class-A space at 4441 Logistics Drive for manufacturing and storage purposes, according to a Jan. 10 news release exclusively shared with Bisnow by Lee & Associates DFW, the brokerage behind the deal.
This will be Ole’s fourth industrial building in the Metroplex, per the release. The search for this space was especially challenging given DFW’s booming industrial market, said Alex Wilson, associate broker with Lee & Associates’ DFW office.
“When Ole began their search, we worked closely with them to keep up with the fast-paced market while keeping their specific interests at heart,” Wilson said in a statement. “Ultimately, we were able to secure a great building that will enable Ole to increase their production capacity significantly and create hundreds of jobs, contributing to the North Texas economy.”
According to a recent report by Transwestern, the Metroplex’s industrial market recorded 40.5M SF in 12-month net absorption at the end of Q4, shattering the previous record by nearly 7M SF. This level of demand, tied with plummeting vacancies, is behind the market’s double-digit rent growth, which increased by 14.2% compared to pre-pandemic levels.
Ole, founded in 1988 by Veronica Moreno, is a family-run business based in greater Atlanta. The new DFW location will support the company’s sales growth by expanding capacity and improving distribution, a company representative told Bisnow.
Wilson co-represented the buyer with Lee & Associates’ Nathan Denton, Corbin Blount and Adam Graham. The seller, VistaPrint, was represented by Cresa Dallas Fort Worth, per the release.
)
)
)
)
)
)
)
)
)
)
)
)