“The acquisition of the 27-building portfolio, establishes CenterPoint as a prominent industrial real estate owner and landlord in the Houston market,” said Chris Tecu, Vice President, Investments of CenterPoint.
Oak Brook, IL (PRWEB) April 02, 2015
CenterPoint Properties proudly announces the acquisition of a 27-building transportation advantaged portfolio in Houston, Texas. The properties are located within nine business parks, and total 3.6 Million square feet. Jud Clements, Rusty Tamlyn, Trent Agnew and Robby Rieke of HFF facilitated the transaction between CenterPoint and the seller.
The majority of the facilities acquired are situated east of the Houston Central Business District. The buildings offer excellent access to shipping channels including, the Union Pacific (UP) Settegast, UP Englewood and Burlington Northern Santa Fe Mykawa yards, the Port of Houston, and close proximity to a petrochemical refining complex.
“The acquisition of the 27-building portfolio, establishes CenterPoint as a prominent industrial real estate owner and landlord in the Houston market,” said Chris Tecu, Vice President, Investments of CenterPoint. “This was an opportunity for CenterPoint to acquire a port-proximate, predominately rail-served building portfolio, directly adjacent to substantial rail infrastructure,” stated Tecu. “The acquisition of the East Houston portfolio complements our national expansion initiative to locate in competitive markets like Houston, accommodating port-related customers with strategically located and highly functional facilities.”
The central location in relation to multiple modes of transportation provide tenants with decreased transportation-related expenses. The majority of the facilities acquired are designed for floor-stacked products with high turn ratios, which is a building feature in great demand in the Houston market.
The properties acquired are located in the following Houston area industrial parks:
- West Loop Business Park
- Kempwood Industrial Business Park
- Northway Park II
- Turning Basin Subset
- Market Street Industrial Park
- Railwood Industrial Park
- 1200 Lathrop Street
- Navigation Business Park
- 610/288 Business Park
This acquisition brings CenterPoint’s total portfolio in Houston to 6.2 Million square feet across 45 buildings in the past 24 months.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint‘s portfolio includes 47.3 million square feet and 5,500 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit http://www.centerpoint.com or follow @centerpointprop on Twitter.