Sunday , 25 September 2016
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Crow Fund Buys 27 Warehouses in Houston and Dallas

HOUSTON – A private fund advised by Crow Holdings Capital – Real Estate (CHC-RE) purchased a 27-building, 2.35 million-square-foot, 95.6-percent leased industrial portfolio located in Houston and the Dallas-Fort Worth area.

Holliday Fenoglio Fowler represented the seller, a partnership between Mayfield Properties, LP and AB Real Estate Group.

HOUSTON ASSETS: The eight Houston facilities are located in the Northwest and Southwest industrial markets and total 16 buildings with 1.3 million square feet.  The 93.6-percent leased portfolio is comprised of the 1801 West Sam Houston Parkway property; the two-building Greengrass Drive facility at 1401-1431 and 1501-1527 Greengrass Drive; 401-421 West Crosstimbers Street; the four-building Willowbrook facility with 8270 and 8280 Willowbrook Place North, 9305-9323 Millsview Road and 13161-13175 Misty Willow Drive; and the two-building Wynnwood Park at 7215 Wynnwood Lane and 7240 Wynnpark Drive in Houston; the three-building Julie Rivers property at 505 and 525 Julie Rivers Road and 12505 Reed Road in Sugar Land; and the two Corporate IV buildings at 12603 and 12613 Executive Drive and the 4000 Greenbriar property in Stafford.

DALLAS ASSETS: The eight Dallas-Fort Worth properties are located in the DFW Airport North, Great Southwest, Valwood and West Brookhollow industrial markets.  The 11 buildings are 98.1 percent leased and total 1.015 million square feet.  The facilities are located at 1375 Avenue South and 1002 Avenue T in Grand Prairie; 2400 Centennial Drive in Arlington; 5101 Statesman Drive in Irving; 1625 Vantage Drive in Carrollton; 12901 Nicholson Road (three buildings) in Farmers Branch; 601-625 Mockingbird Road (two buildings) in Dallas and 8601 Ambassador Row, also in Dallas.

The HFF investment sales team representing the seller was led by senior managing directors Randy Baird and Rusty Tamlyn, managing director Jud Clements, directors Trent Agnew and Robby Rieke and real estate analysts Stephen Bailey and John Rogers.

The seller, Mayfield Properties, is a Texas limited partnership formed by industry veterans John Jenkins and Jim Jones. Since 2010, Mayfield has acquired 8 million square feet of existing industrial assets in Dallas, Houston, San Antonio, Memphis and Atlanta.

Mayfield’s partner, AllianceBernstein, LP, formed the Real Estate Group in order to build out a private equity real estate platform by leveraging the firm’s current resources and existing infrastructure.

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