The property has immediate access from Beltway 8 in addition to visibility from more than 150,000 vehicles per day and proximity to Bush Intercontinental Airport.

“It is likely the new owner plans improvements on the nine-year-old property with an occupancy rate of 60%,” Tamlyn tells GlobeSt.com. “Very little industrial product is for sale nationally and this type of property is very hard to find, as evidenced by 20 initial offers.”

Exeter Property Group is a real estate investment manager focused on industrial properties and portfolios across North America and Europe. Exeter also acquires, develops and manages select suburban/urban office and multifamily properties. Exeter assembles diversified portfolios to deliver real estate solutions to tenants and to deliver risk-adjusted returns to its investors.

HOUSTON—With little newer industrial construction to be had, a nine-year-old business park is more than a viable option for an owner seeking big-box warehouses and multi-tenant logistics facilities. That property, Bammel Business Park, is a five-building, class-A industrial property totaling 246,450 square feet. It is situated on 14.1 acres at 4710-4822 North Sam Houston Parkway West (Beltway 8) in Houston's premier Northwest industrial submarket.

FR/Cal Bammel recently sold the facility to Exeter Property Group, which purchased the property for an undisclosed price. Bammel Business Park features 24-foot clear heights, dock-high loading doors, 200-foot shared truck court depths and 12.6% office finish. The one-story buildings are leased to a diverse tenant mix, including Gruma Corporation, Stylenquaza and Motion Industries.

Holliday Fenoglio Fowler LP represented the seller. HFF's investment sales team was led by senior managing director Rusty Tamlyn and senior director Trent Agnew.

“This offering generated substantial interest due to the value-add nature, deal size, newer product in northwest Houston and very little product on the market for sale,” Tamlyn said.

The property has immediate access from Beltway 8 in addition to visibility from more than 150,000 vehicles per day and proximity to Bush Intercontinental Airport.

“It is likely the new owner plans improvements on the nine-year-old property with an occupancy rate of 60%,” Tamlyn tells GlobeSt.com. “Very little industrial product is for sale nationally and this type of property is very hard to find, as evidenced by 20 initial offers.”

Exeter Property Group is a real estate investment manager focused on industrial properties and portfolios across North America and Europe. Exeter also acquires, develops and manages select suburban/urban office and multifamily properties. Exeter assembles diversified portfolios to deliver real estate solutions to tenants and to deliver risk-adjusted returns to its investors.