#United States #Addison #Belay Investment Group #Birtcher Anderson & Davis #Lindbergh Industrial

Sale Announcement

In a noteworthy transaction, Birtcher Anderson & Davis Associates, Inc. (often referred to as BAD) and Belay Investment Group have successfully completed the sale of the Lindbergh industrial property, a key asset located adjacent to Addison Airport, in one of the Dallas-Fort Worth area’s prime industrial submarkets. The deal, officially closed on February 23, 2026, involved a multi-tenant facility encompassing approximately 97,840 square feet situated at 4301-4321 Lindbergh Drive.

Property Overview

Lindbergh is a highly regarded single-building industrial property composed of ten suites serving a diverse tenant base. The location is strategically positioned in an established and supply-constrained infill market, enhancing its desirability among tenants. When acquired by BAD in late 2021, the property came almost fully leased yet had in-place rental rates that lagged behind the prevailing market levels, which pointed toward an opportunity for increased profitability through targeted renovations and strategic leasing management.

Strategic Enhancements

During the holding period, BAD implemented a series of enhancements aimed at boosting occupancy rates and overall rental income. Notably, rental prices were successfully increased significantly, in line with robust market trends, with average rental rates jumping from $6.84 per square foot at acquisition to $11.27 by the time of sale—a remarkable increase of about 65%. These adjustments reflect the successful execution of a value-add business strategy.

The ownership group addressed tenant needs by undertaking interior renovations throughout the tenants' spaces as they became available. This included targeted upgrades to warehouse layouts and the associated office facilities, which notably improved overall market presentation and functionality, leading to stronger leasing results and increased tenant retention.

Market Response and Results

By the time of the sale, the Lindbergh property reached 100% occupancy, showcasing the demand for improved industrial assets in such a favorable location. Eliza Bailey, Co-Founder and CEO of Belay Investment Group, expressed her enthusiasm regarding the transaction, emphasizing the operational success achieved through a focused execution of the value-add strategy. This adds to their continued momentum in the Dallas Light Industrial portfolio investment, illustrating the robust demand for well-managed and well-located industrial properties.

About the Companies

Birtcher Anderson & Davis is well-recognized in the field of real estate investment, development, and property management, with their main office located in San Juan Capistrano, California. The firm is dedicated to acquiring value-add, middle-market multi-tenant warehouse and light industrial properties across key growth markets in the U.S.

Belay Investment Group operates as an institutional real estate investment management firm, specializing in small-scale real estate access through programmatic partnerships with local specialized operators. They are committed to identifying investment opportunities across various property types and geographical areas, positioning themselves as significant players in the market.

Overall, the successful execution of this transaction underscores not only the expertise of BAD and Belay in steering value-enhancing real estate strategies but also the enduring strength of the industrial real estate sector near Addison Airport.