Bowen Business Park

Investment Overview

Bowen Business Park (the “Property”) is a ±37,680-square-foot, multi-tenant small-bay industrial asset strategically located between I-20 and I-30 in the heart of Arlington, Texas, offering investors a compelling value-add opportunity with significant near-term upside. The Property has an in-place occupancy of 84.3% compared to the submarket average of 93.4%, creating a clear path to drive revenue through the lease-up of vacant suites. The Property is currently leased at average in-place rents of $11.73/SF NNN, well below verified market lease comps of $14–$18/SF NNN. With a WALT of less than 12 months, investors have the ability to quickly mark rents to market as leases expire and drive meaningful NOI growth. This value-add business plan supports a projected 12.4% Year-5 pro forma cap rate. Bowen Business Park is offered at an attractive basis of $132.70/SF, below recent sales comps for similar product in the submarket. The Property benefits from its infill Arlington location just north of W Division Street between I-20 and I-30. The surrounding small-bay industrial submarket remains highly supply constrained, with 6.6% vacancy and no net new supply expected through 2030, positioning the asset for strong occupancy and continued rent growth. Constructed in 1983, the Property features a functional small-bay configuration with an average suite size of ±1,178 SF, 29 grade-level plus 4 dock-high loading doors, 12' clear height, and a concrete parking lot. The 5% office / 95% warehouse finish-out accommodates a wide range of service-oriented and light industrial tenants while minimizing tenant improvement costs. The Property is located within a strong demographic corridor, with average household incomes exceeding $97,000 and median home values above $324,000 within a two-mile radius. Overall, Bowen Business Park offers investors the opportunity to acquire a well-located infill small-bay industrial asset at a basis below recent comparable sales, with immediate upside through lease-up and rental rate mark-to-market, supported by favorable submarket fundamentals.

Investment Highlights

• Lease-Up Opportunity: In-place occupancy of 84.3% compared to a submarket average of 93.4%; ±5,900 SF across five suites is currently available for lease.
• Below-Market Rents: In-place rents of $11.73/SF NNN compared to market lease comps of $14–$18/SF NNN.
• Near-Term Rollover: WALT under 12 months, allowing rents to be marked to market quickly as leases expire.
• Strong Returns Profile: 7.0% in-place cap rate and 12.4% Year-5 pro forma cap rate.
• Attractive Basis: Priced at $132.70/SF, below recent sales comps for similar product in the submarket.
• Infill Location: Located north of W Division Street between I-20 and I-30 in west Arlington.
• Tight Supply Dynamics: No net new supply projected through 2030 (CoStar).
• Ideal Small-Bay Configuration: ±1,178 SF average suite size, 29 grade-level plus 4 dock-high loading doors, 12' clear height, and a concrete parking lot.
• Low Office Finish-Out: 5% office / 95% warehouse, accommodating a wide range of users with minimal tenant improvement costs.
• Solid Demographics: $97,670+ average household income and $324,900+ median home value within a two-mile radius (CoStar).