WexTrust Capital Drops $28M for Industrial Site

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HAMMOND, LA-A Dallas-based real estate investment partnership has sold a 20-year-old multi-tenant warehouse, distribution and production complex for $28.4 million. The seller had bought the 710,603-sf complex, situated 55 miles northwest of New Orleans, in 2000 for $9.5 million.

Pride Drive Business Center at 301-511 Pride Dr. has been bought by Hammond Industrial Holdings LLC, an affiliate of Chicago-based WexTrust Capital, a global private equity and specialty finance company. The fully leased complex, built by a regional supermarket chain as a distribution center, includes 471,127 sf of office/warehouse space, 207,872 sf of freezer and cooler space, a 20,604-sf office building and an 11,000-sf truck-maintenance building. The complex originally covered 150 acres, but 43 acres were carved out and sold in the last five years, according to David E. Gibbons, a partner in Acadia Capital Group LLC who heads up the seller’s group.