Dallas, Texas (Oct. 18, 2023) – SRS Real Estate Partners today announced the sale of Marquis Logistics Building 2, a 74,758-square-foot industrial building in the heart of Garland’s industrial market. Located at 3325 Marquis Drive at the northwest corner of S. Jupiter Road and Marquis Drive, the warehouse is part of a new state-of-the-art tilt-wall development in Garland, Texas. Reserve Capital Partners and equity partner Trinity Investors in Southlake, Texas developed the 194,000-square-foot property that delivered in April, 2023.
“This development is unique because it’s the only new project in the heart of Garland’s industrial market that has the capability to accommodate smaller tenant sizes as well as tenants needing a stand-alone building,” said Shannon Johnston, Vice President at SRS Real Estate Partners. “This shallow bay product is in high demand and very few developers in DFW are building this type of product due to the cost of construction.”
Johnston and SRS Vice President Joseph Cooper represented the seller, Reserve Capital Partners. The building was sold to an undisclosed owner/user.
“Most developers can only make sense of ‘big box’ product due to interest rates and construction costs,” said Johnston. “Reserve Capital Partners went the other direction. This smaller, shallow bay, tilt-wall asset is our most active and strongest listing. RCP is nimble, so we had the ability to market the space to sell, lease, demise, build out, whatever was needed. We couldn’t deliver the development quick enough, and we’re seeing strong interest as we work to lease the final 44,000 square feet in building one.”
SRS Industrial recently announced a significant expansion of their team nationwide. Nine industrial veterans in the key markets of Atlanta, Southern California’s Inland Empire and Miami joined SRS over the last two months, and the team is focused on additional expansion opportunities in Chicago and New Jersey in the next year.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.