HOUSTON – (Realty News Report) – Acuren Inspections leased an industrial property near the Port of Houston, according to the landlord, Triten Real Estate Partners of Houston.
It’s another deal in Triten’s real estate investment fund focused on “industrial service facilities.”
Industrial service facilities – also known as “stabilized yards” – may not be considered by some to be the most exciting asset class in commercial real estate. But Triten is betting that stabilized yards will be an excellent investment.
Industrial service facilities include parking lots for 18-wheeler trucks and trailers, and other outdoor storage areas near warehouses and industrial districts. Stabilized yards, sometimes made of crushed concrete, are also used for storing shipping containers, pipe or materials that won’t be harmed by rain, cold or heat.
“The secular growth of e-commerce demand from consumers has led to explosive growth for distribution centers and warehouses which has led to supply chain constraints for companies as they rapidly adapt to the increased throughput,” says Scott Arnoldy, founder of Triten Real Estate Partners. “We view ISF assets as mission-critical to the speed and efficiency of the global supply chain and the pandemic has only further underlined the critical role these ISF assets serve.”
Triten recently closed on a $150 million fund from a single institutional partner to continue investing in industrial service facilities (ISF) across the country. ISFs are properties that provide crucial functionality to the industrial supply chain through strategic locations with a large outdoor storage component. Tenants often utilize these sites to store trucks, trailers, equipment, building materials and intermodal containers close to significant population density and critical logistics infrastructure such as ports, major highway intersections, airports, and intermodal railyards.
Acuren Inspection’s Lease
A Triten industrial service facility located at 10845 Strang Road in the La Porte Industrial District of Houstonwas recentlly leased to Acuren Inspections, the leading provider of nondestructive testing, inspection, engineering and rope access integrated services.
“With immediate access to Highway 225 and 146 servicing the Port of Houston submarket, Acuren was able to fully utilize the excess stabilized storage yard and take full advantage of the generous clear height and first-class building amenities highly sought after by corporate users servicing this segment of the market,” says Will Hedges of Triten Real Estate Partners.
David Munson and Conrad Bernard of Boyd Commercial/CORFAC International represented Triten Real Estate Partners in the lease.
In addition to a growing ISF portfolio, Triten actively acquires and spec-develops industrial distribution warehouse assets and currently has a warehouse portfolio of over 2.5 million square feet.
May 20, 2021 Realty News Report Copyright 2021
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File: Triten’s Stabilized Yard Strategy and a New Lease
Image: Courtesy Triten Real Estate Partners