Faropoint acquires 760,000 square feet of last-mile industrial properties in Dallas-Fort Worth - Dallas Business Journal

1460 North Glenville Drive, Richardson, a 121,068-square-foot property 2220 Chemsearch Boulevard, Irving, a 115,926-square-foot property631 South Royal Lane, Coppell, a 51,360-square-foot property2300 East Randol Mill Road, Arlington, a 50,888-square-foot property

Vadim Greenberg, head of Acquisitions at Faropoint, said in a prepared statement, “While we continue to closely evaluate deals in the current economic environment, we remain cautiously optimistic about the trajectory of sustained demand and strong fundamentals in the last-mile industrial sector.” Cushman Wakefield’s Jim Carpenter, Jud Clements, Robby Rieke, Taylor Starnes, Madeleine Supplee and Trevor Berry represented the undisclosed seller in the transaction of the 100% leased portfolio.

Last-mile assets, and the tenants that lease these spaces, are companies that more than likely market speed of delivery to their customers. Beyond basic parcel delivery users, these facilities sometimes can hold products with a shorter shelf life on average and are smaller in square footage. Whereas larger industrial buildings, more commonly located outside of the urban core, have products with longer shelf lives and are used for storing goods.

The locations of the assets make it easier for delivery providers to get in and out of town much faster, allowing for a larger quantity of deliverable goods and increased customer satisfaction. Total # of local tenant rep deals closed in 2021

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