Birtcher Anderson & Davis Acquires Dallas Light Industrial Portfolio In Carrollton Sell
1325 Whitlock Ln, Carrollton, TX, 75006
Building Size
300,437 SF
Asset Type
—
Closing
Nov 22, 2023
AI
The Dallas Light Industrial Portfolio was recently sold in Carrollton, Texas. The portfolio consists of nine Class B in-fill assets totaling 300,437 sq. ft. of industrial space located in Addison and Carrollton. The sale was facilitated by Randy Baird from CBRE on behalf of the seller, Kennington Commercial. The buyers, Birtcher Anderson & Davis, in collaboration with Belay Investment Group, acquired the portfolio in a joint venture.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Undisclosed
- Address: 1325 Whitlock Ln, Carrollton, TX, 75006
- Market: Carrollton
- Seller's Rep: Randy Baird (CBRE)
- Buyer: Birtcher Anderson & Davis
- Seller: Kennington Commercial
- SF: 300437
The sale of the Dallas Light Industrial Portfolio involved key individuals including Jonathan Bryan, Ryan Thornton, and Eliza Bachhuber from CBRE National Partners, who were instrumental in arranging the transaction. The nine buildings within the portfolio are strategically located in the Northwest submarket, offering convenient access to major transportation routes such as I-35, I-635, Dallas North Tollway, and President George Bush Turnpike. This sale marks a strategic reallocation of assets for Kennington Commercial, reflecting the robust demand for industrial spaces in high-growth areas like Addison and Carrollton.
Players
Carrollton CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93