DALLAS, TEXAS – August 15, 2022 – Crescent Partners through its acquisition fund, CPIV Fund I LLC, has closed on the acquisition of a 7,200 square footage industrial building located at 351 Bank Street – Southlake, TX 76092. The tilt wall concrete building is 100% leased to multiple tenants.
The building was constructed in 1985 and sits on 0.55-acres of land. It features a 12-foot clear height, five grade-level doors, and ample parking for 32 vehicles. 351 Bank Street offers a promising investment opportunity given its below-market rent, recent renovations of new paint on the exterior building, and new TPO roof. Located in Southlake, the Southlake industrial submarket vacancy rate of 2.7% is low relative to the Dallas/Fort Worth Metroplex average of 5.5%. Our investment portfolio continues to expand with the purchase of assets located in infill markets throughout the Dallas/Fort Worth area.
We believe this property is a great addition to our portfolio as it’s located in one of the fastest-growing regions in the United States.
About Crescent Partners, Inc.
Crescent Partners is an industrial real estate holding company that specializes in refining the art of acquisition, renovation, leasing, and property management to deliver a superior leasing experience, and deliver above-market returns to our investors. Crescent Partners targets the acquisition of single-tenant and multi-tenant industrial assets at below replacement cost, located in infill markets. To learn more about our growing portfolio, please visit www.crescentpartners.com. For leasing inquiries or questions about the property, please contact email@example.com. Interested in investing with us? Contact firstname.lastname@example.org.