HOUSTON — Amstar, a Denver-based real estate investment manager, on behalf of one of its public retirement system clients, has sold the new Beltway North Commerce Center, a 352,680-square-foot industrial project in north Houston.
The property sale was arranged during construction and closed when the building was complete.
Amstar in partnership with Davis Commercial Development of Houston acquired the 35-acre land parcel in March 2014 and developed an industrial building there.
The property, with 1,200 feet of frontage, is located at 971 North Sam Houston Parkway E., immediately south of George Bush Intercontinental Airport.
“We were fortunate to have a strong local partner to identify opportunities early in the recovery and allow for a sale when value had been maximized,” said Amstar Managing Director Daniel Cohen.
Davis Commercial Development is led by Jeffrey P. Davis. Rosenberger Construction acted as the general contractor.
Josh McArtor and Heather McClain Venegoni from CBRE in Dallas represented the seller in the transaction.