DALLAS, December, 2021 – JLL is pleased to announce that Industrial Outdoor Ventures (IOV), a Chicago-based real estate investment company specializing in providing real estate solutions to outdoor storage users or Industrial Service Facilities (ISF) in major markets, has acquired a low FAR 57,418-square-foot building located at 3636 Dan Morton Drive, Dallas, TX 75236. The new property comes as IOV focuses its capital to delivering a revitalized asset in one of the longest standing industrial submarkets in the DFW area.
JLL’s Craig Jones, SIOR and Caleb McCoy, SIOR facilitated the transaction between the buyer, IOV, and the seller, Univar.
“This marks IOV’s 18th acquisition of the year and we have a big push on to buy more in DFW, we love the market. The Dan Morton asset with its massive yard, rail spur and flexible service building lines up perfectly for a wide range of transload or last-mile uses including ecommerce, building material distribution, transportation, or heavy equipment sales/service.” said IOV CEO, Tom Barbera
The building is a non-replicable asset situated on 8.5 paved and secured acres with active and dedicated rail service provided by Union Pacific. Conveniently located 15 minutes from downtown Dallas, the area is a premiere infill location. The building is vacant and ready for occupancy with new office make ready, yard improvements, lighting upgrades, truck court expansion, and modernizations underway.
According to JLL’s Q3 Industrial Insight, the Dallas-Fort Worth industrial market continues to see unprecedented demands as a result of local population growth and national trends, including the expansion of e-commerce retailers and the restructuring of supply chains. Over the last 12 months, 33.7 million square feet has been absorbed, with leases signed for nearly 13.1 million square feet of new and relet space in Q3 of 2021.
“The Industrial Service Facility (ISF) asset class is seeing a dramatic increase in investor capital due to the niche product type and continued upward rent growth,” said McCoy. “We are proud to continue facilitating these unique transactions in a pivotal time in the market so that our clients can continue to provide solutions for the end user.”
ERIC JOHNSON
Senior Vice President, Development & Acquisitions
Phone: 312.898.2978
Email: eric@iovre.com
ANTHONY DELAURENTIS
Acquisitions Officer
Phone: 847.595.0263
Email: anthony@iovre.com