Peachtree Distribution Center; Photo Courtesy of CBRE
MESQUITE, Texas – (April 9, 2024) – CapRock Partners, which specializes in acquiring and developing industrial properties in the Western and Central U.S. announces its acquisition of Peachtree Distribution Center, a 396,750-square-foot, 100% leased, Class A industrial asset in Mesquite, Texas. The warehouse property is within a preferred distribution business center in Dallas-Fort Worth’s (DFW) East Dallas/Mesquite industrial submarket. The acquisition marks a prominent step in CapRock’s expansion into Texas and the Central U.S.
“Peachtree Distribution Center is a well-located industrial warehouse property in a vibrant Dallas submarket. This acquisition represents an opportunity to secure a high-quality industrial asset in DFW below replacement cost and strengthen CapRock’s growing Texas portfolio,” said Jon Pharris, Co-Founder and President at CapRock Partners. “This property reflects CapRock’s thoughtful approach in investment and our commitment to delivering consistent, risk-adjusted returns for our institutional investors.”
CapRock purchased the distribution facility from a Dallas-based investor-developer. Terms of the deal are not disclosed.
Peachtree Distribution Center is located at 510 N. Peachtree Road, adjacent to the I-635 freeway, with prime visibility and accessibility. The 24-acre property is less than one mile from freeway on/off ramps via Military Parkway and W. Scyene Road and is within close proximity to regional transportation routes such as HWY 80, I-30, I-20, and I-635. Corporate neighbors include big-box industrial users such as distributors and light manufacturers and the property is surrounded by institutional ownership.
“This property is located in a dynamic sub-market within Dallas and known for its robust labor supply, and high-quality corporate tenants. Peachtree Distribution Center is a strategically positioned infill facility providing unmatched connectivity and access to the region’s robust population and national freeway network,” said Taylor Starnes, Vice President, Acquisitions at CapRock Partners. “The property’s central location, coupled with proximity to major distribution routes, ensures exceptional accessibility for tenants and underscores its significance within our portfolio. We are pleased to secure this asset and offer a best-in-class location for distribution and logistics-related businesses while supporting local economic growth.”
Built in 2001, the distribution facility features a cross-dock configuration with 31-foot clear height, 66 dock-high doors and three drive-ins, minimal office space (3.2% of the property), abundant power and ESFR sprinklers. The Property also features 120-foot truck courts that are expandable to 175 feet, and easy in and out access to N. Peachtree Road.
Peachtree Distribution Center is leased to three high-quality tenants. CapRock plans to make capital improvements to enhance the property’s functionality and aesthetic.
CBRE National Partners represented the seller in the transaction, led by Randy Baird, Ryan Thornton, Jonathan Bryan, Eliza Bachhuber, Nathan Wynne, and Elliott Dow.
To date, CapRock has a pipeline of approximately 1.7 million square feet of industrial property either acquired, under contract or in the development process across Texas. In 2024, the firm remains focused on strategic growth and pursuing additional value-add industrial investment and development opportunities throughout Texas.
ABOUT CAPROCK PARTNERS
Founded in 2009 in Newport Beach, Calif., CapRock Partners is a privately owned investor and developer of industrial real estate in the Western and Central United States. The company specializes in acquiring middle-market value-add industrial assets, developing large-scale institutional-quality Class A industrial warehouse facilities in key locations, and providing third-party asset management services for institutional investors. The firm is actively acquiring land for development and middle market value-add assets across the Western and Central U.S. Since inception, its total investment and development pipeline exceeds 30 million square feet of industrial real estate. Follow the company on Facebook, LinkedIn, X and Instagram.
