{"id":1004183698,"date":"2017-07-13T03:44:46","date_gmt":"2017-07-13T11:44:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004183698"},"modified":"2022-12-06T00:41:27","modified_gmt":"2022-12-06T08:41:27","slug":"avison-young-brokers-sale-of-new-dallas-industrial-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/avison-young-brokers-sale-of-new-dallas-industrial-facility\/","title":{"rendered":"Avison Young Brokers Sale of New Dallas Industrial Facility"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004183740\" style=\"width: 421px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/ONeal-building-copy.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004183740\" data-attachment-id=\"1004183740\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/avison-young-brokers-sale-of-new-dallas-industrial-facility\/oneal-building-copy\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/ONeal-building-copy.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"O&#8217;Neal Industries building in Grand Prairie, Texas\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;O&#8217;Neal Industries building in Grand Prairie, Texas&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/ONeal-building-copy.jpg?w=400\" class=\"wp-image-1004183740 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/ONeal-building-copy.jpg\" alt=\"O'Neal Industries building in Grand Prairie, Texas\" width=\"411\" height=\"319\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/ONeal-building-copy.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/ONeal-building-copy.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 411px) 100vw, 411px\" \/><\/a><p id=\"caption-attachment-1004183740\" class=\"wp-caption-text\">O&#8217;Neal Industries building in Grand Prairie, Texas<\/p><\/div>\n<p>Avison Young completed the sale and forward equity placement of a newly developed build-to-suit distribution center in the Dallas-Fort Worth submarket of Grand Prairie. The facility located at Grand Lake Boulevard and Gifford Street sold to an affiliate of Lexington Realty Trust.\u00a0<\/p>\n<h2>Build-to-Suit<\/h2>\n<p>O&#8217;Neal Industries Inc. signed a long-term lease on the property, which was completed in 2017. The building was constructed with 15-ton cranes that allow the tenant to transfer steel across the warehouse&#8217;s 770-foot length. Also included is 15,000 square feet of office space that features a mix of large open space and suites, along with amenities such as showers and lockers, a large dining area and a patio.\u00a0<\/p>\n<p>The building is being designed with LED lighting, a minimum of 32-foot clear height ceilings, a 40-foot roof height, four drive-in doors and two drive-through lanes. There is parking for 92 cars.\u00a0The center\u00a0is located in between Dallas and Fort Worth, with frontage on Interstate 30, close to I-35, SH-360 and Loop 12.\u00a0<\/p>\n<p>Principals Erik Foster and Mike Wilson of Avison Young&#8217;s National Industrial Capital Markets Group worked on behalf of developer Altera Development Co.\u00a0<\/p>\n<p><em>\u201cIn today\u2019s environment, developers are equally as concerned with raising capital as they are with the construction and longer-term exit strategy,\u201d<\/em> Foster told <em>Commercial Property Executive<\/em>.<em> \u201cThese types of strategic relationships that we provide to developers are highly valuable in helping to move a project of this magnitude through the development cycle.\u201d<\/em><\/p>\n<p>This deal follows shortly after Avison Young also brokered the sale of a <a href=\"https:\/\/www.commercialsearch.com\/news\/avison-young-brokers-24m-mob-sale\/\">medical office building in Silver Springs<\/a>, Md., for $24 million.\u00a0<\/p>\n<p><em>Image courtesy of\u00a0Avison Young\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The distribution center developed by Altera Development Co. is now owned by an affiliate of Lexington Realty Trust. O&#8217;Neal Industries Inc. signed a long-term lease on the property.<\/p>\n","protected":false},"author":746,"featured_media":1004183740,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21748,21742],"tags":[33022,36727],"class_list":["post-1004183698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-industrial","category-latest","tag-avison-young","tag-lexington-realty-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Avison Young Brokers Sale of New Dallas Industrial Facility - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/avison-young-brokers-sale-of-new-dallas-industrial-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avison Young Brokers Sale of New Dallas Industrial Facility\" \/>\n<meta property=\"og:description\" content=\"The distribution center developed by Altera Development Co. is now owned by an affiliate of Lexington Realty Trust. 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