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Tuesday, August 11, 2020

Big industrial deal indicates Fort Worth market remains strong in spite of COVID-19

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Dallas-based CanTex Capital, a diversified, value-add commercial real estate investment and development company, recently acquired a two building, 124,658 square foot facility at 4901 N. Beach Street in Fort Worth. NAI Robert Lynn Fort Worth President Todd Hubbard brokered the sale on behalf of G&W Ventures and now serves as CanTex Capital’s owner representative to find prime tenants for this industrial asset.

CanTex has started renovations on the rebranded “Beach Industrial Park” property, which has space for two tenants of 72,000 square feet and 52,658 square feet or one tenant with a mix of office and warehouse space. Two features of the facility — air-conditioning and outside storage — are in high demand in the still-thriving industrial market.

“CanTex Capital shows the strength of the Fort Worth industrial market, which is in a great position to weather this unprecedented pandemic as e-commerce, population growth and onshoring of manufacturing drive the market,” Hubbard said. “We expect e-commerce to increase by at least 10 percent, and we’ve seen companies already in discussions to move their manufacturing back to the United States and a number of out-of-state manufacturing companies looking to relocate to Texas. The affordable housing, business-friendly government and the population growth of Fort Worth and Dallas will allow industrial real estate to lead the way in recovery from COVID-19’s economic damage.”

The location of the Beach Industrial Park property, which is CanTex Capital’s first industrial acquisition in Fort Worth, is appealing to tenants due to its easy highway access. The property is less than one mile from Interstate 35 and Loop 820. It’s also 20 minutes from Dallas-Fort Worth International Airport.

“We have been looking at acquiring industrial assets in the Fort Worth market for the past year and are thrilled that Beach Industrial Park is our first,” said Romit Cheema, CEO of CanTex Capital. “NAI Robert Lynn showed amazing professionalism throughout the transaction, so we wanted to continue to work with them to lease the property. We look forward to expanding our commercial real estate and industrial portfolio in the Fort Worth market.”  

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