SCHAUMBURG (March 1, 2022) – Industrial Outdoor Ventures, a Chicago-based real estate investment firm specializing in Industrial Service Facilities (ISF), has executed a long-term lease transaction with Kamps Pallets less than 90 days after the acquisition of a prominent ISF in Dallas-Fort Worth (DFW).
Kamps, which specializes in pallet management programs such as pallet recycling, pallet purchase, custom pallet design, and repair and return services, has leased the entire 57,418-square-foot asset which is located on 8.5 acres at 3636 Dan Morton Drive in Dallas.
The asset at Dan Morton Drive includes three distinct structures:
· An 18,000-square-foot enclosed masonry constructed warehouse space that includes 1,500 square feet of warehouse office space;
· A 37,426-square-foot open-air warehouse, covered with partial sheet metal siding. It also includes an 8,000-square-foot sealed off, HVAC area; and
· A 1,992-square-foot standalone office building.
Kamps will utilize the dock high warehouse, office, and concrete storage yard as it expands its local operations and distribution capabilities in DFW.
“We’re glad we could be a solution provider for Kamps at this facility. Given the extremely low vacancy in Dallas, it’s never easy to find buildings with excess yard for this type of operation,” said IOV’s Anthony DeLaurentis. “Kamps was great to work with and we hope this is the first of many transactions nationwide”.
The Dan Morton Drive asset is conveniently situated in an infill market that is within 15 minutes of Dallas and in close proximity to the interstates. Other attributes of the property include the 8.5 acres of paved and secured yard surface, dock high loading, access to active and dedicated rail service provided by Union Pacific and the improvements IOV made to the asset.
The improvement program launched immediately after the asset’s acquisition last December included new office make-ready, yard improvements, lighting upgrades, truck court expansion, and other modernizations. For example, prior to Kamps’ occupancy, IOV will demolish the existing tank farm infrastructure and pave the surface to maximize yard storage.
This facility is IOV’s fourth property IOV owns in the Dallas-Ft. Worth area, one of the most dynamic industrial markets in the country. The ability to quickly lease an asset like Dan Morton Drive in Dallas reinforces IOV’s interest in further expanding its holdings in DFW.
At the time of the asset acquisition in December IOV CEO, Tom Barbera expressed the firm’s goal to actively pursue more assets in DFW, saying, “We have a big push on to buy more in DFW, we love the market.”
Caleb McCoy, SIOR and Senior Vice President, JLL, represented IOV in the transaction. Jamie Galati with JLL represented Kamps.
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