Solid Gold: Amazon Warehouses Sold in Houston

KATY, Texas –  (Realty News Report) – Two large Amazon warehouses in west Houston have been sold.

ONE: WSRE CP CLAY Owner LP,  an entity affiliated with Walton Street Capital, acquired an 806,000-SF Amazon distribution building on Clay Road in Katy, near the Grand Parkway.

TWO: In the other deal, Exan Capital, a Miami-based investment firm, acquired a 1 million-SF Amazon fulfillment center in Brookshire at 31555 Highway 90.

The seller was Duke Realty, an industrial REIT that developed both buildings. The transactions were previously reported in the Realty News Report newsletter.

The JLL Capital Markets Investment Sales Advisory team representing the Duke was led by Trent Agnew, Rusty Tamlyn, Charles Strauss, Tom Weber and Jack Britton.

In the Walton Street Capital deal, JLL Capital Markets Debt Placement team representing the buyer was led by Senior Managing Director Colby Mueck, Senior Director Michael Johnson and Analyst Molly Leinsdorf. JLL placed the floating-rate acquisition loan with Wells Fargo Bank.

“The industrial sectors continues to be one of the most desirable asset classes for both investors and lenders, and the combination of an excellent credit tenant coupled with a best-in-class buyer created a great execution with Wells Fargo on the acquisition financing,” JLL’s Johnson said.

The rapid adoption of e-commerce, accelerated by the COVID-19 pandemic, has continued to lead to rampant growth in the industrial property sector. 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.

E-commerce is driving a record-setting boom in America’s warehouse sector as projects totaling 330 million square feet — or roughly 7,575 acres under roof – are under construction, according to a new report from Lee & Associates.

Amazon has been adding new distribution facilities at a rapid pace with some 1,000 new projects in the immediate pipeline.

“Single-tenant industrial assets with long-term leases to credit tenants continue to see significant interest from a multitude of investors,” Agnew said.

The Walton Street Capital building sits on 54.2 acre.  It is a cross-dock building features concrete tilt-wall construction, a 40-foot clear height, 190-foot truck court with substantial vehicle and trailer parking, 190 dock-high doors, ESFR fire protection and LED lighting.


Feb. 10, 2021 Realty News Report Copyright 2021


File: Solid Gold: Amazon Warehouses


Photo courtesy JLL


File: (2) February 2021. Solid Gold: Amazon Warehouses Sold in Houston. JLL. Wells Fargo. Duke Realty.

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