3000 West Kingsley Road SOLD
This 341,840 square foot manufacturing/distribution facility was acquired in third quarter 2012. The property, originally built in 1963 and expanded in 1974, sits on 19.688 rail-served acres. Located in southwest Garland, the site is bounded by Kingsley Road to the North, Jupiter Road and LBJ Freeway (Interstate 635) to the West and South, and Shiloh Road to the East.
The building is 100% HVAC climate-controlled, and includes an office component of 11,000 square feet. The property is 100% occupied by Apex Tool Group (“Apex”), a strong credit tenant, serving as one of the company’s primary tool manufacturing facilities. Apex manufactures 30 leading brands of hand and power tools (including Craftsman, Crescent, GearWrench, Armstrong, Weller, and Kobalt (Lowes Home Improvement’s private label). Kingsley Manufacturing has a 20-year lease with Apex Tool Group, providing a stable cash flow. In addition, the property offers significant upside potential with the sizable undeveloped land available for expansion or additional parking.
Westmount Realty Capital, LLC
Stephen H. Kanoff