Huge Amazon Warehouse Sold

HOUSTON – (Realty News Report) – Exan Capital, a Miami-based real estate investment firm, has acquired a 1 million-SF Amazon fulfillment center in Brookshire, west of Houston.

Amazon has been on a construction binge with over 1,000 distribution buildings under development across the nation. The pandemic has accelerated the shift into e-commerce as consumers shop online to reduce their exposure to Covid.

This Amazon facility was constructed near the Katy Freeway in 2018 by Indianapolis-based Duke Realty, a REIT that now focuses on industrial real estate.

JLL Capital Markets worked on behalf of the seller, which is a publicly traded REIT company, to market the property. Additionally, JLL placed the five-year, fixed-rate acquisition loan with New York Life Insurance Co.

The fulfillment center is situated on 84 acres at 31555 Highway 90 in Brookshire, a western suburb approximately 38 miles from downtown Houston in Waller County. Plans to construct the facility were first reported in March 2017 in an exclusive breaking news story in Realty News Report.

Approximately, 1,600 Amazon employees work at the Brookshire facility. The state-of-the-art center features 36-foot clear heights, LED lighting, ESFR fire systems, 100 dock-high doors, deep truck court, two drive-in doors, ample trailer parking spaces and an abundance of parking. The property serves as a mission-critical location for the tenant, allowing them to serve the more than 10.5 million residents in and around Houston, Austin and San Antonio from a single location.

The JLL Capital Markets Investment Advisory team representing the seller was led by Managing Director Trent Agnew, Senior Managing Director Rusty Tamlyn, Director Charles Strauss and Analysts Tom Weber and Jack Britton. The acquisition for Exan was led by Partner Ignacio Gil-Casares and Vice President, Investments, Arturo Vinueza.

The JLL Capital Markets Debt Placement team representing the new owner was led by Senior Managing Director Colby Mueck, Senior Director Michael Johnson and Analyst Molly Leinsdorf.

“This transaction represents the continued demand by investors to acquire e-commerce focused industrial real estate,” Agnew said.

The COVID-19 pandemic and the shelter-in-place policies that ensued have accelerated e-commerce growth and the need for warehouse space across the nation. JLL expects e-commerce sales could hit $1.5 trillion by 2025, which would increase the demand for industrial real estate to an additional 1 billion square feet.

Exan Capital is an independent real estate fund manager with asset management services, primarily active in United States gateway markets and select European cities. The group was founded in 2013 and currently has its headquarters in Miami, with a regional office in Madrid, Spain.

Exan is working toward expanding its current portfolio by acquiring single-tenant office and industrial properties leased to investment-grade tenants in key markets across the U.S. This sale marked the second acquisition in 2020 with this vehicle, following the July purchase of an office building in San Jose, Calif.


Jan 19, 2019 Realty News Report Copyright 2021


File: Huge Amazon Warehouse Sold


Photo: Courtesy JLL


File: (2) Huge Amazon Warehouse Sold  in Waller County. JLL Capital Markets. Trent Agnew. Rusty Tamlyn.

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