McGraw-Hill will vacate the 382,288-sf class A industrial property Aug. 1
DALLAS In a sale or lease scenario, a New York-based investment trust has retained Bradford Commercial Real Estate Services to market the 382,288-sf I-20 Corporate Center, which will be vacated Aug. 1 by its longtime tenant, McGraw Hill Cos. Inc.
The class A industrial asset is being marketed for $45 per sf or $2.99 per sf on a net-lease basis. The 20-acre property at 220 E. Danieldale Rd. in DeSoto, Texas, has served as the Southwest regional hub for the New York-based Fortune 500 company since 1986, housing customer service, production and distribution of educational publications and products.
"With the Dallas/Fort Worth market having a net absorption of 6 million square feet of industrial space in 2013 year to date, and on target to exceed our annual absorption rate of 12.5 million square feet, the timing of this asset coming to market is extremely opportunistic for the landlord," says Kevin J. Santaularia, president and CEO of the Dallas-based brokerage firm. Also representing the landlord in the hunt for a tenant or buyer are Bradford's Michael W. Spain and Michael T. Grant, senior vice presidents and managing partners.
Situated close to freeways leading in all directions, the single-story warehouse features 20,000 sf of bi-level office space connected by an elevator. Other key design features include a building-wide sprinkler system with an auxiliary 300,000-gallon tank; 30-foot clear height peaking to 32 feet at the apex; high-performance warehouse ventilation system; 20 dock-high doors with capacity for more; and a drive-in grade-level door.
"The I-20 Corporate Center is equally beneficial for a tenant or user who is looking to occupy a standalone distribution or manufacturing building with corporate identity, minutes from I-20 and the I-35E interchange," Santaularia says.
May 13, 2013