Fund Acquisitions

4344 Irving Boulevard - Dallas, TX

Property 4344 Irving Boulevard, Dallas, Texas
Description An off-market acquisition of a 13,500 sq. ft. building situated in the Mercantile Industrial Area, one of the most sought after and original industrial areas in Dallas. The area is home to many businesses in the trucking, warehousing and manufacturing industries.
The property is currently triple net leased to Praxair (NYSE: PX), a global Fortune 300 company that supplies atmospheric, process, specialty gasses, high performance coatings and related services and technologies to a wide array of customers.
Date Purchased Date Purchased – March 30, 2010
Lease Summary - Praxair Rent – $49,600 per annum, January 10, 2010 – December 31, 2012.

Tenant has one (1), five (5) year option to extend the lease through December 31, 2117. Rent during the extended term will be $54,582 per annum.
Repositioning We believe the current F.M.V. rent for the property is approximately $5 per sq. ft. or $67,500 per annum. The property was purchased at a cap rate of almost 10%, which should provide steady cash flow to the Fund. Additionally, as the economy recovers and financing become more readily available, sales prices based on cap rates for this type of property should increase, resulting in increased value.

Contact Info

Rolling Cash Equity Group
1430 Broadway - 14th floor
New York, N.Y. 10018
Tel: 646-519-8490
Fax: 646-519-8494