HOUSTON – (Realty News Report) – TA Realty purchased the East Belt Business Park, a 350,000 SF, four-building industrial project near the Port of Houston in Houston’s Southeast submarket.
The seller,a fund advised by Morgan Stanley Real Estate Investing, was represented by 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 Tom Weber.
“East Belt Business Park is a unique property that caters to tenants of varying sizes in a market focused on big box development,” Agnew said. “This was a highly competitive process that proved investor demand for high-quality product with upside potential.”
Developed in phases in 2004 and 2008, East Belt Business Park comprises two rear-load and two cross-dock buildings that feature 20- to 24-foot clear heights, 114 dock-high doors, 14 drive-up ramps, 510 parking spaces and truck courts ranging from 120- to 180-foot . The property, developed by Trammell Crow, has been more than 90 percent leased since delivery.
The project is situated on 23.7 acres at 1455-1485 East Sam Houston Parkway South in the Southeast submarket, which is the second-largest Industrial submarket in Houston. With frontage along Beltway 8 (Sam Houston Tollway), East Belt Business Park is three miles from the Port of Houston, a 25-mile long waterway that services 8,200 vessels and 215,000 barges each year.
TA Realty, based in Boston, has managed, acquired or invested in $30 billion of properties since the company was founded in 1982.
Feb. 24, 2020 Realty News Report Copyright 2020
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