CORSICANA, TX—What is estimated to be the largest industrial building in the state has sold to Solo Cup/Dart Container, according to Eliken Property Management and Binswanger. The building formerly known as the Home Depot distribution center is a 1.45-plus million-square-foot building on 139 acres at 2200 South Business 45.
Dart Container produces single-use food service products (foam cups and containers). The seller, Eliken Property Management, is looking to expand its presence in Texas and Arkansas as well as other target markets.
“Our firm's goal is to create real value in property and places,” says Eli Zami director of acquisitions, Eliken. “Eliken is a growing company, laser-focused on buying value and creating value for its investors. We see beyond the sale.”
Features of the one-story facility include insulated metal sandwich-panel walls, 6- and 8-inch reinforced concrete floor, steel H-beam columns spaced 48 by 48 feet, ceiling heights ranging from 23 feet to 26 feet 3 inches, 100% coverage sprinkler system, T-8 and fluorescent lighting, all utilities, 8- by 10-foot dock-high doors, two drive-in ramps and one grade-level door with ramp. In addition, there is approximately 13,248 square feet of air-conditioned office space featuring private offices, a conference room, a data processing room with raised flooring, a cafeteria, vending areas, first aid station, paved and lighted parking for approximately 559 cars and 1,130 truck trailers, and rail access served by Union Pacific bordering the northwest boundary of the property.
The seller was represented by Holmes Davis, senior vice president in Binswanger's Dallas office.
GlobeSt.com learns that industrial investment group Equity Industrial Partners Corp. bought the warehouse for $22 million in 2005. Home Depot closed the center during summer 2012. Binswanger began marketing the property for lease in late 2016.
The property is minutes to Interstate 45 and State Highway 31, and provides direct access to the Dallas/Fort Worth International Airport. Corsicana is approximately 60 miles from Dallas, 70 miles from Tyler, TX and 190 miles from Houston.
Binswanger tells GlobeSt.com there is an abundance of residential and retail located within a half mile of the property. It is home to many major manufacturers and distributors including Kohls, True Value and Russell Stover Candies.
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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.
