Tue, 19/08/2014 - 16:09
Dalfen America Corp (DAC) has acquired the Gillingham Distribution Center, located in Sugarland, Texas.
The Gillingham Distribution Center is a Class A, 330,674 square foot facility and is currently 85 per cent occupied.
Built in 2005 and expanded in 2007, the concrete tilt-up building has 38’ and 28.5’ clear ceiling heights, cross dock configuration, and ample trailer parking.
In addition to the property, DAC acquired five acres of land, which will serve as the site for the development of a freestanding 75,000 to 100,000 square foot, freestanding industrial facility, with construction slated to commence in the coming months.
“This is a great building in an exceptional location, and we intend fix what we define as its solvable problems, by reconfiguring the asset to meet the demands of the market,” says Sean Dalfen, Dalfen America Corp’s managing principal and chief investment officer. “We couldn't be more bullish about Texas, which is precisely why we currently have projects underway throughout the state. In the Houston market alone over the next 24 months we aim to acquire and develop roughly two million feet of class A industrial property.”
The Gillingham Distribution Center was acquired through Dalfen America Corp’s Ashrei II Opportunistic Industrial Fund. Within its first week of ownership DAC has already signed a seven year lease for 52,500 square feet with Pink Zebra – a large US candle manufacturer.
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