Avistone, LLC announces the acquisition of Northgate Business Park III located in Dallas, Texas. The 155,494 square foot multi-tenant flex / warehouse project is located in the Northeast Dallas/Garland industrial sub-market on 10.51 acres of land. Built between 1983 and 1984, the project consists of five (5) buildings, and is currently 92.06% leased to 33 tenants. The company negotiated an acquisition price approximately 65% below replacement value, with solid projected average cash-on-cash yields and IRR over a 5-year holding period.
Avistone, LLC is excited to announce the acquisition of Northgate Business Park III located in Dallas, Texas. The 155,494 square foot multi-tenant flex / warehouse project is located in the Northeast Dallas/Garland industrial sub-market on 10.51 acres of land. Built between 1983 and 1984, the project consists of five (5) buildings, and is currently 92.06% leased to 33 tenants.
The company negotiated an acquisition price approximately 65% below replacement value, with solid projected average cash-on-cash yields and IRR over a 5-year holding period.
According to research reports by CBRE and Cushman Wakefield, the Dallas/Fort Worth industrial market continues to be a power house among other leading markets in the nation. The combination of the overall market vacancy being at 5.8% and the lack of new development of multi-tenant industrial properties lends itself to tenant retention in the market. Also, employment in the Dallas region expanded for the 8th consecutive month by the end of 3Q16. “We are thrilled to have acquired a second property in the Dallas market. The job and economic growth in the area along with demand for industrial space lends itself to a potentially very successful investment” said Richard Kent, Avistone’s Managing Principal. “Northgate Business Park III aligns perfectly with Avistone’s acquisition goals of acquiring stabilized, multi-tenant business parks that produce healthy cash flow and a strong projected total returns while minimizing risk. We are continuing to acquire properties similar to Northgate III to our portfolio in order to provide the yield, return, and mitigated risk for our investors.”
Avistone is a premier commercial real estate investment firm specializing in the multi-tenant business park properties. The company is currently acquiring and managing quality, stabilized multi-tenant properties in major and secondary markets throughout the U.S. from $5 to $25 million. To learn more about investing with Avistone, please email [email protected]
*Important Disclosures:
This communication is intended solely for accredited investors as such is defined in the Securities Act, and is not intended as an offer to sell, or the solicitation of an offer to buy any securities or ownership interests. The opinions and forecasts expressed herein are solely those of Avistone, LLC, as of February 24, 2023, and subject to change. Actual results, future events, predictions, circumstances and events will vary and be different from those set forth herein, and there are no guarantees that any positive or successful results, express or implied, by investors will be realized. Avistone specifically disclaims any right or obligation to provide investor returns at forecasted levels. Avistone’s track record from 2013 to December 2022; no guarantee of future results. The performance information of Avistone’s prior projects has not been audited by any third-party. The track record metrics reflect the weighted average performance of all our clients, and not every investor experienced exactly these same returns. Any and all evaluations for investment purposes must be considered in conjunction with a final Private Placement Memorandum (the “PPM”); all prospective investors are strongly encouraged to read all “risk factors” in the PPM. Further, some of the initial information provided above contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties, and investors should not rely on them as predictions of future events. Investments in private securities contain a high degree of risk and often have long hold periods. They are illiquid and may result in the loss of principle. Avistone’s strategy may not occur due to numerous external influences.