December 19, 2012
HOUSTON - Industrial Income Trust, a REIT, has closed the sale of a five-property, 709,114-sf industrial portfolio in Houston. HFF marketed the portfolio on behalf of the seller.
The portfolio is 98.5 percent leased overall. The properties included in the portfolio are: 9830-9856 East Freeway (Eastport 8); 6323 Brookhill Drive (Lone Star 3); 552-598 Garden Oaks Boulevard (Pine Forest 18); 4601 South Pinemont (Pineway 1) and 3800-3898 West 11th Street.
The HFF investment sales team representing the seller was led by senior managing director Rusty Tamlyn and associate director Trent Agnew.
“Industrial Income Trust is expanding their presence in the Houston area as earlier in the year, HFF sold them the Northwest 8/Windfern assets,” said Tamlyn. “The assets within this portfolio were predominately dock hi, front load warehouse buildings with low office finish and urban in-fill locations that were substantially leased with three of the five having new roofs.”
October 26, 2012
HOUSTON – NDI Industrial Partners, Ltd., a partnership sponsored by Nelson Duffie Interests, Inc., acquired a 417,825 square foot industrial portfolio from Prologis, Inc. This is Nelson Duffie’s second largest industrial acquisition to date. Tom Lynch with CBRE represented the seller and Nelson Duffie represented themselves in the transaction.
John T. Fenoglio of CBRE Capital Markets, LLC arranged the acquisition financing through Richard E.C. Miller of Viewpoint Bank.
Nelson Duffie Interests is a privately owned full service development and acquisition company headquartered in Houston. The partners in the company are Richard R. Nelson III and John C. Duffie.
September 27, 2012
HOUSTON – Hines has formed a joint venture with KKR & Co., the private equity firm founded by Henry Kravis and George Roberts, to develop the Pinto Business Park, a 971-acre project located at the southwest corner of Beltway 8 and Interstate 45 in Houston. The business park is owned by Pinto Development Realty Inc.
At build-out, Pinto Business Park is projected to include 9 million-sf of space, representing an investment of $900 million. The development program includes an immediate focus on build-to-suit transactions and individual land sales to corporate end-users, and afterwards, an expansion into the development of inventory for-lease buildings.
The Studley real estate firm has been retained to market the property.
“With vacancy at a 35-year low of five percent, ongoing positive absorption, increasing values and moderate new construction, the Houston industrial real estate market continues to be one of the strongest in the country,” said John Simons, corporate managing director of Studley’s national Industrial Services Group. “Pinto Business Park is the largest development-ready business park in Houston.”
The expansion of the Panama Canal is expected to increase activity at the Port of Houston and enhance regional distribution business.
August 28, 2012
HOUSTON– Mayfield Properties purchased a 1 million-sf industrial portfolio in Houston. The seller was DCT Industrial Trust Inc.
The 13-property portfolio is 98 percent occupied by 46 tenants. The properties are:
- Corporate IV 12603, 12613 Executive; 79,252 sf; Stafford
- Julie Rivers at 505, 525 Julie Rivers Rd. and 12505 Reed Rd.; 219,703 sf; Sugar Land
- Greenbriar at 4000 Greenbriar; 229,200 sf; Houston
- Silber at 1240-1270 Silber; 170,880 sf; Houston
- Wynnwood Park at 7215 Wynnwood and 7240 Wynnpark; 107,406 sf; Houston
- Willowbrook at 8270 and 8280 Willow Place North, 13161-13175 Misty Willow Dr., and 9305-9323 Millsview Rd; 198,790 sf; Houston
The HFF investment sales team representing the seller was led by senior managing director Rusty Tamlyn and associate director Trent Agnew. “DCT made a strategic decision to sell some of their non-core product, and will focus on development and acquisition of newer Class A product in Houston and other major markets they currently own product in,” said Tamlyn.