CIT Acquisition Purchases Development Site

DALLAS  CIT Acquisition Corp. has purchased a 24.1-acre industrial site at 1025 Post & Paddock Rd. in Grand Prairie, Texas. “Vacancy within the Great Southwest industrial submarket currently stands at 8.5% for warehouse/shallow-bay product,” says Kevin J. Santaularia, president and CEO of Dallas-based Bradford Commercial Real Estate Services. “With very little land available for speculative construction in GSW and solid absorption, CIT best electric shaver will be timing the market right.” Santaularia and Michael W. Spain, senior vice president and managing partner of Bradford, represented the seller, OTR, an Ohio general partnership, in the direct deal.        
July 2, 2013

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