Boodor is Your Go-to Source for the Latest Business News, Stay Informed and Make Informed Decisions.
⎯ 《 Boodor • Com 》

CanTex Capital Acquires Shallow Bay Industrial Portfolio in Northeast DFW

2023-10-04 20:50
DALLAS--(BUSINESS WIRE)--Oct 4, 2023--
CanTex Capital Acquires Shallow Bay Industrial Portfolio in Northeast DFW

DALLAS--(BUSINESS WIRE)--Oct 4, 2023--

Dallas-based CanTex Capital, a commercial real estate investment firm focused on infill industrial assets, recently acquired a portfolio of four buildings in Northeast Dallas and McKinney. CanTex acquired the portfolio totaling 219,049 square feet from a large institutional investor.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231004740543/en/

13435-13465 Jupiter Road and 415 Interchange Street (Photo: Business Wire)

“We believe in the long-term fundamentals of the DFW market. The metroplex continues to see tremendous population and job growth, which is driving demand from both distribution and manufacturing tenants. On the supply side, very little industrial infill product is being built or replaced,” said Romit Cheema, CEO and Founder of CanTex Capital. “As one of DFW's major industrial nodes, Northeast Dallas has a deep pool of diverse industrial inventory and a wide-ranging tenant base.”

With three buildings on Jupiter Road in Dallas and one on Interchange Street in McKinney, the portfolio is fully occupied with existing rents well below market and limited remaining lease terms, creating an opportunity to mark rents to market in the near term. Dallas and the neighborhoods to the north have experienced substantial population growth in recent years, driving continued low vacancy rates for industrial infill product.

“Despite this year’s slower market activity, we continue to find attractive investment opportunities. The density of product we have acquired and manage in DFW gives us a good pulse on the market,” said Gillian Cho, President of CanTex Capital. “We leverage our portfolio’s leasing, construction management, and transaction data to identify inefficiencies and trends and to better understand risk.”

Since the start of 2022, CanTex Capital has acquired over 60 buildings and nearly 3 million square feet of industrial properties. The firm looks to secure sites below replacement cost in low vacancy submarkets, identifying assets with proximity to labor forces, major transportation arteries, and last-mile population centers.

About CanTex Capital

CanTex Capital (CanTex) is a Dallas-Fort Worth (DFW) based commercial real estate investment firm specializing in the repositioning of Class B infill industrial properties throughout Texas. The team is vertically integrated with acquisitions, construction management, property management and asset management in-house, and an experience base spanning a breadth of geographical markets, asset classes, and market cycles. Over the past five years, CanTex has transacted on over 8.3 million square feet of Class B infill industrial product.

View source version on businesswire.com:https://www.businesswire.com/news/home/20231004740543/en/

CONTACT: Investors@cantexcapital.com

(214) 785-2452

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT

SOURCE: CanTex Capital

Copyright Business Wire 2023.

PUB: 10/04/2023 08:30 AM/DISC: 10/04/2023 08:30 AM

http://www.businesswire.com/news/home/20231004740543/en