DALLAS—Although real estate investment and management company, Dalfen America Corp., sold more than $100 million in properties across five states, its focus is Dallas and industrial properties. The assets which total 1.12 million square feet include Dominion Plaza in Dallas, Sharyland II in McAllen, TX, properties in Indianapolis and Tampa, and an industrial portfolio with nine buildings throughout the Carolinas.
“We are primarily focused on industrial. That is the bulk of our business,” Sean Dalfen, president and CIO of Dalfen, tells GlobeSt.com. “With regard to Dominion Plaza, we'd owned that for quite a while because we believed in the city. It wasn't something we were looking to divest of anytime soon. It was part of our legacy fund, an older vehicle and we lucked out with it. When we made the decision to sell it, we sold it to Peloton, a buyer in partnership with another group, and Peloton is also the leasing broker.”
Dominion Plaza is a 14-story class-A office tower and a three-story office building located at 17304 Preston Rd. The combined 318,695-square-foot buildings are 83.5% leased and include a four-level parking garage and surface parking. Notable tenants include Xerox, State Farm and Tenet Healthcare Solutions. John Alvarado from CBRE capital markets' institutional properties arranged the transaction for Dalfen.
“We believe that real estate is an on-the-ground business and the key to our success is our hands-on approach,” said Dalfen. “The purchase, operation and sale of these five projects really speak to the company's expertise. We see potential to create value in properties that other companies might overlook.”
Sharyland II is a 129,440-square-foot distribution building originally purchased as part of a portfolio from Property Ridge Trust. The building was sold vacant to a user. Edward Villareal, managing partner for South Texas Commercial Real Estate, represented Dalfen in the sale.
“With Sharyland, it was an industrial property we bought in 2015 as part of a south Texas industrial portfolio,” Dalfen tells GlobeSt.com.
Dalfen says after selling the office holdings in Dallas, it will now focus on increasing its footprint on the industrial side.
“We plan to invest significantly more in Dallas and we have 1.7 million square feet of industrial we will be building. Dallas is my home and I think Dallas is the best place to be in the country,” Dalfen tells GlobeSt.com.
The industrial sector has become the hottest segment in commercial real estate. How will logistics companies keep up with the market forces of omnichannel commerce? When will new supply finally catch up with demand? Who's putting investment capital into industrial and what does the future hold? Join us at RealShare Industrial on November 16 and 17 for answers to these and other questions. Learn more.
DALLAS—Although real estate investment and management company, Dalfen America Corp., sold more than $100 million in properties across five states, its focus is Dallas and industrial properties. The assets which total 1.12 million square feet include Dominion Plaza in Dallas, Sharyland II in McAllen, TX, properties in Indianapolis and Tampa, and an industrial portfolio with nine buildings throughout the Carolinas.
“We are primarily focused on industrial. That is the bulk of our business,” Sean Dalfen, president and CIO of Dalfen, tells GlobeSt.com. “With regard to Dominion Plaza, we'd owned that for quite a while because we believed in the city. It wasn't something we were looking to divest of anytime soon. It was part of our legacy fund, an older vehicle and we lucked out with it. When we made the decision to sell it, we sold it to Peloton, a buyer in partnership with another group, and Peloton is also the leasing broker.”
Dominion Plaza is a 14-story class-A office tower and a three-story office building located at 17304 Preston Rd. The combined 318,695-square-foot buildings are 83.5% leased and include a four-level parking garage and surface parking. Notable tenants include Xerox,
“We believe that real estate is an on-the-ground business and the key to our success is our hands-on approach,” said Dalfen. “The purchase, operation and sale of these five projects really speak to the company's expertise. We see potential to create value in properties that other companies might overlook.”
Sharyland II is a 129,440-square-foot distribution building originally purchased as part of a portfolio from Property Ridge Trust. The building was sold vacant to a user. Edward Villareal, managing partner for South Texas Commercial Real Estate, represented Dalfen in the sale.
“With Sharyland, it was an industrial property we bought in 2015 as part of a south Texas industrial portfolio,” Dalfen tells GlobeSt.com.
Dalfen says after selling the office holdings in Dallas, it will now focus on increasing its footprint on the industrial side.
“We plan to invest significantly more in Dallas and we have 1.7 million square feet of industrial we will be building. Dallas is my home and I think Dallas is the best place to be in the country,” Dalfen tells GlobeSt.com.
The industrial sector has become the hottest segment in commercial real estate. How will logistics companies keep up with the market forces of omnichannel commerce? When will new supply finally catch up with demand? Who's putting investment capital into industrial and what does the future hold? Join us at RealShare Industrial on November 16 and 17 for answers to these and other questions. Learn more.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
