HOUSTON – (Realty News Report) – Welcome Group, LLC, a Houston-based commercial real estate developer, has acquired two properties in Georgia – its first expansion outside the state of Texas.
“These first two out-of-state acquisitions mark an important milestone for our company,” said Welcome Wilson, Jr., President, and CEO of Welcome Group. “We are continuing to expand our footprint across the U.S. and are always interested in attractive new acquisition opportunities.”
In recent weeks, the Welcome Group closed on the purchases of:
The Shaw-Almex facility in Decatur, Ga. This is a single-tenant industrial/office building that was built in 1984 and expanded upon in 1996. The property totals 135,000 square feet on nearly 15 acres. Welcome Group purchased the 100%-leased Shaw-Almex property for a price of $8,900,000 ($65.66/SF).
The Torsion Group facility in Tucker, Ga. This is a single-tenant industrial/office building totaling approximately 49,700 square feet on 3.5 acres. The building is an industrial/office masonry facility with concrete tilt-up perimeter panels that was built in 1989. The purchase price was $3,900,000 ($78.49/SF). The property has five+ years remaining on a ten-year lease to Torsion Group Corp.
With these acquisitions, the Welcome Group now owns 116 properties more than 5.7 million square feet of industrial and office space within its commercial real estate
Welcome Group made nine additional acquisitions in 2020, comprising approximately 840,000 square feet of industrial warehouse and office space. This included the purchase of 23 acres for future development within Cedar Port Industrial Park in Baytown, one of the largest industrial business parks in the United States.
In early 2020, Welcome Group purchased 14.89 acres of raw land to develop a 66,151 square foot facility for JDR Cable Systems’ new U.S. Headquarters in Tomball. The global subsea cable supplier and servicer company’s new headquarters will bring additional jobs to the local area. This recently developed project has just been completed; and the grand opening will be held May 7.
Welcome Group, which also does build-to-suit projects, said it continues to seek additional acquisition and development opportunities – including sale-leaseback transactions – across the Southeastern US. The firm’s Ted Kakambouras is the Acquisitions Director of Southeast Region.
Welcome Group develops and acquires single-tenant commercial, distribution, lab, and manufacturing properties, as well as entire real estate portfolios.
April 25, 2021 Realty News Report Copyright 2021
Photo credit: Ralph Bivins, Realty News Report Copyright 2021
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File: Welcome Wilson Firm Expands