The Houston team consists of principal Rusty Tamlyn and associates Ralph Tullier and Aaron Thielhorn. The team has reached this height with the seven-building Kempwood Business Center, First Industrial Realty Trust's entire 22-property Louisiana portfolio and the recently reported four-property holding of Dallas-based Crow Holdings Industrial Trust. Tullier says the closings have culminated deals that had started to unfold late last year.
The Kempwood Business Center, owned by an unidentified RREEF client, has been sold to Midway Kempwood Partners LP. The buyer is an entity of Houston-based Midway Cos., which used in-house broker John Duffie to negotiate the buy.
Kempwood Business Center consists of seven buildings situated on about 28 acres at 2716 Bingle Rd. and 8201-8399 Kempwood Dr. in northwest Houston. The center has 436,024 sf of bulk warehouse space and 105,953 sf of service center space. Tenants include Walgreen's, Whirlpool, Pennzoil, CGI Deserts and McClatchy Van Lines. The business center is currently 91% leased.
For First Industrial, the Louisiana portfolio sale is the result of a corporate decision to exit secondary markets and focus on major markets, Tullier tells GlobeSt.com. The 22 industrial properties are located in Shreveport, Baton Rouge and New Orleans.
A Shreveport-based Sealy & Co. Inc. affiliate is the new owner to First Industrial's 14 office-warehouse buildings, totaling 550,000 sf; 755,000 sf in five bulk-warehouse buildings; 120,593 sf in three office buildings; and 55 acres in New Orleans' James Business Park. Steve Reisig of SRSA Commercial Real Estate in Meterie, LA has joined the Trammell Crow team in representing First Industrial in the sale. Buyer Sealy had in-house representatives, Mark Sealy and Jeff Dunman, handling its end of the deal.
As previously reported in GlobeSt.com, Crow's Houston properties have gone to Boston-based Realty Associates Advisors DBA Ta Associates Realty. Tullier says the buildings had been sold as part of the Crow trust's natural operations. Crow Holdings Industrial Trust, he says, is still looking to buy and sell properties in the Houston market. The sold portfolio had contained industrial buildings at 1150-1170 Silber Rd.; 1213 and 1317 W. Loop North; 8790 Wallisville Rd.; and 9360 and 9364 Wallisville Rd.
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