Sunday , 25 September 2016
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Prologis Buys Houston Industrial Portfolio

HOUSTON – Prologis Inc., an industrial REIT, purchased a three-property industrial portfolio totaling 219,452 square feet in Houston’s Prologis Park NorthPark, formerly NorthPark Central Business.

HFF marketed the portfolio on behalf of the seller, J.A. Billipp Company.

The sale included three dock-high and grade-level industrial buildings comprised of office/warehouse, technology and bulk distribution facilities with 18’ to 24’ clear ceiling heights.  The properties are located at 433, 533 and 600 NorthPark Central Drive.  They have direct access to Interstate 45 and are within minutes of Beltway 8, Hardy Toll Road and George Bush Airport.  The portfolio is 100 percent leased to five tenants, including CalAtlantic, LCC, Michigan Institute of Aeronautics, Universal Technical Institute (UTI) and Zoyto, Inc.  An adjacent 2.07-acre tract of land leased to UTI for parking was also part of the purchase.

The HFF investment sales team was led by senior managing director Rusty Tamlyn and Wesley Hightower working with seller principals Andy Billipp and Mark Witte at J. A. Billipp Co.

Rusty Tamlyn

Rusty Tamlyn

“Andy Billipp developed these buildings, which were some of the first developed in NorthPark, a master-planned, deed-restricted business park in North Houston, and several of the tenant companies have been in their respective lease facilities for 15 years,” Tamlyn said.  “As developer and owner of many of the newer buildings surrounding these acquired assets, Prologis was the most logical buyer.”

J. A. Billipp Company is a Houston-based real estate development and investment company with more than 33 years of proven experience in designing, developing, leasing and managing investment-grade commercial and industrial properties in Houston and Austin.

Prologis, Inc., the leading global provider and operator of logistics infrastructure, is the largest industrial REIT in the world and is focused on global and regional markets across the Americas, Europe and Asia.

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