MERRITT INDUSTRIAL

DALLAS, TX
INDUSTRIAL PARK

DALLAS INDUSTRIAL PARK PROJECT is  a five building concrete tilt-up project built in 1986.  This 115,472 rentable square feet multi-tenant industrial project is located in the North Gate Business Park IV within the Northeast Dallas/Garland industrial sub-market of Dallas, Texas.

Our purchase price is $5,889,000 ($50.99 per square foot) which is 50% below replacement cost.  The project is 82.48% occupied by nine tenants ranging in suite size from 2,400 to 57,392 square feet. The current ‘in-place’ rents are about 20% less than per-recession rents. But, more importantly the individual building sales value is 35% to 60% more than our current purchase price.

Value potential will be realized through capital improvements and selling the buildings to owner-users. Alternatively, we can raise existing tenant rents to current market rents, lease the vacancies and sell as a traditional investment.

Offering will include both Equity Capital and Preferred Capital investments.  Equity Capital will accrue at 6% and receive 70% pro rata share of profits.  Preferred Capital will receive a preferred distribution of 8% 1st year, 9% 2nd year, 10% 3rd year & thereafter.