Multi-tenant deal secured with leading manufacturing occupiers
Dallas, TX. – September 28, 2022 – Colliers announced today the sale of the Adell Group manufacturing facility located at 200 Adell Blvd, Sunnyvale, TX. Senior Associate, Andrew Johnson, at Colliers represented the buyer, Leon Capital Group, as the only broker involved in the transaction.
The strategic location of the property on U.S. 80, sits just outside Dallas’ thriving downtown and has easy access to multiple shipping routes and airports. Currently the space is occupied by Adell Group and The Christman Company. Christman, formerly Medco, is one of the nation’s foremost commercial construction management firms. The Adell Group, the building’s original owner, is a leading manufacturer and supplier of door edge guards as original equipment to domestic and foreign automakers.
“When I discovered this deal, I saw several points of value attractive to an investor—the building’s location on U.S. 80, the strong in-place tenants, the potential for rent growth, and the future development and growth of this submarket. I was tasked with finding the right buyer who saw the same value in this asset’s story,” said Johnson. “Considering the rapidly changing capital markets environment, I was happy to close this deal quickly and without any major issues.”
Over the last year, over 1.6 million square feet of new product was delivered to the East Dallas Submarket with an additional 2.8 million under construction. While the vacancy rate is at 10.6 percent, this is expected to drop as demand on the east side of Dallas continues to grow. Currently, the greater Dallas-Fort Worth market leads the nation in amount of construction underway with 66 million square feet.
PR & Communications Specialist | Southwest