SAN JUAN CAPISTRANO, Calif., May 28, 2026 /PRNewswire/ — Birtcher Anderson & Davis Associates, Inc. (“BA&D”) and Belay Investment Group (“Belay”) announced the successful sale of Lindbergh, a multi-tenant industrial property totaling approximately 97,840 square feet located at 4301–4321 Lindbergh Drive adjacent to Addison Airport, north of the Dallas–Fort Worth metroplex. The transaction closed on February 23, 2026 and the marketing efforts were led by CBRE National Partners’ Eliza Bechhuber.
Lindbergh is a single-building, multi-tenant industrial property comprised of 10 suites, serving a diverse tenant base within one of DFW’s most established and supply-constrained infill submarkets. The property was acquired in December 2021 as part of a larger portfolio investment.
At acquisition, the asset was nearly fully leased but featured in-place rental rates below prevailing market levels, presenting an opportunity to execute a value-add business plan through rent growth and targeted capital improvements. Throughout the hold period, ownership successfully increased rents in line with favorable market fundamentals while maintaining consistently high occupancy.
When tenant spaces became available, BA&D completed interior renovations and targeted suite upgrades, including improvements to both warehouse layouts and associated office components. These enhancements refreshed the overall market presentation of the property, improved functionality for incoming tenants, and contributed to stronger leasing results and tenant retention.
By the time of sale, Lindbergh was 100% occupied, with average rental rates approximately 65% higher than at acquisition, increasing from $6.84 per square foot to $11.27 per square foot. This performance reflects the successful execution of the value-add strategy and the strength of demand for well-located, improved industrial assets in the Addison submarket.
“We are thrilled to have achieved another favorable exit from our Dallas Light Industrial portfolio investment and believe the positive outcome underscores both the strength of our small bay industrial investment program as well as the BA&D team’s expertise in executing the value-add strategy. Through targeted leasing and the thoughtful implementation of capital improvements, the investment benefited from strong rent growth and healthy demand supported by a dynamic infill submarket. We look forward to working alongside our valued partners at BA&D as we continue to build on this momentum,” said Eliza Bailey, Co-Founder, CEO & CIO of Belay Investment Group.
About Birtcher Anderson & Davis
Birtcher Anderson & Davis (“BA&D”) is a California based, privately-owned real estate investment, development, and property management firm located in San Juan Capistrano, CA with additional satellite locations in CA, NV, and AZ. BA&D is a vertically integrated real estate operating company focused on acquiring value-add, middle-market, multi-tenant warehouse and light industrial properties in high growth U.S. markets. For more information visit: www.birtcherandersondavis.com
About Belay Investment Group
Belay Investment Group, LLC is an institutional real estate investment management firm that is at the forefront of providing scalable access to small-scale real estate. The Firm does this through programmatic partnerships with locally entrenched and specialized operators with exclusive deal flow and “on-the-ground” market insights throughout the US. Belay pursues investment opportunities across the risk spectrum, property types, and geographies, including both debt and equity, offering its clients unique access to these alpha generating real estate opportunities. Visit www.belayinvestmentgroup.com for more information.
Media Contact:
Daniel Karcher
Birtcher Anderson & Davis Associates, Inc.
[email protected]
949-296-3560
SOURCE Birtcher Anderson & Davis
