BAYTOWN, Texas – (Realty News Report) – The 1 million SF IKEA furniture warehouse in the Cedar Port industrial park in Baytown has been acquired by MDH Partners of Atlanta, according to JLL.
One of Biggest Deals in Recent Years
The 15,000-acre Cedar Port, called the largest industrial park in the nation, has extensive connections to the Port of Houston, railroad lines, barges and the Grand Parkway.
“The Port of Houston continues to be a powerful catalyst for the region’s industrial real estate market,” said Trent Agnew of JLL. “We’re seeing continued demand from both new entrants and expanding companies across diverse sectors, all aiming to leverage the area’s operational efficiency, abundant capacity, skilled workforce and cost advantages.”
The transaction is one of Houston’s largest industrial real estate deals in recent years.
JLL Capital Markets represented the seller of the Cedar Port IKEA, a 996,482-SF industrial distribution center on the east side of Houston. The property consists of two Class A buildings built in 2017, currently fully leased to IKEA. It features 32-foot clear heights, large 190-foot truck courts and future rail capability. Clay Development & Construction, a Houston-based firm led by Robert Clay, developed the IKEA buildings about 10 years ago.
Located at 4762 and 4830 Borusan Rd in Baytown, Texas, the property sits within the sought-after Southeast Houston industrial submarket, about 15 minutes from Barbour’s Cut Container Terminal.
The JLL Investment Sales and Advisory team was led by Industrial Group Co-Lead and Senior Managing Director Trent Agnew, Senior Director Charlie Strauss and Director Lance Young.
MDH Partners, where Georga Rowe is acquisitions director, entered the Houston market last year acquiring a 600,000-SF warehouse in the South Belt Central Business Park, near Highway 288.
IKEA is not the only major player in the Cedar Port Industrial Park, the fifth-largest master-planned, rail-and-barge-served industrial park in the world. This Cedar Port campus has big warehouses from industry leaders like Walmart, GE, DHL and Home Depot.
Located in West Chambers County near Houston, the industrial park is both barge-served and is dual-served by the Union Pacific and the BNSF railroads.
Oct. 14, 2024 Realty News Report, Copyright 2024
Image Courtesy JLL Capital Markets
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File: 1M sf IKEA Warehouse Sold Near Port Houston JLL MDH Partners 1M sf IKEA Warehouse Sold Near Port Houston JLL Capital Markets Cedar Port Iupe, Chambers County, Barge-Served