HOUSTON – (Realty News Report) – High Street Logistics Properties, a Boston-based real estate firm, purchased 129,527-SF distribution facility in the Baytown, near Houston.
Completed in 2009, Cedar Crossing Distribution Center is fully leased to Merih Cotton Corp., a family owned and operated Houston-based cotton distributor.
JLL marketed the property on behalf of theseller, Mountain West Industrial Properties and Galveston-based American National Insurance Co.
The JLL Industrial Capital Markets team that represented the seller was led by Managing Director Trent Agnew, Senior Managing Director Rusty Tamlyn, Director Charlie Strauss and Analyst Ethan Goldberg along with Senior Vice President Richard Quarles, who leased the building on behalf of the seller.
Cedar Crossing Distribution Center is also within the 15,000-acre Cedar Port Industrial Park, which is the largest master-planned, rail-served industrial park in North America. The industrial park, owned by TGS, is served by both Union Pacific Railroad and BNSF rail.
“The Southeast Industrial submarket lacks optionality for smaller tenants, as most development in the area is focused on big box buildings, so Cedar Crossing will always have significant interest from tenants that need to be near the Port of Houston,” Agnew said. “We were extremely pleased with both the buyer and seller’s ability to execute this transaction during the COVID-19 pandemic.”