(Read more on the industrial market.)
STAFFORD, TX-The Newport Beach, CA-based Carson Cos. has made its first move into Houston's far southwest submarket, acquiring 137,536 sf of distribution and flex space leased for the long term to Alpha Shirt Co. Experts say the buyer has shelled out $7 million to $10 million for the triple net-leased asset.
According to Fort Bend Central Appraisal District, the class A industrial building and 9.8-acre tract at 13127 Trinity Dr. is assessed at $7.2 million. Dan Zoch, Carson's managing director in Texas, tells GlobeSt.com that Alpha Shirt has room to build onto the eight-year-old building if it wants.
Zoch says the acquisition pushes its local portfolio to more than 1.1 million sf, all acquired since July 2006. He says the location in the deed-restricted park was the dealmaker. The seller was Lowenberg Corp. of San Francisco.
"Our platform is to build and/or acquire well-located, class A distribution buildings," Zoch says. He adds the company doesn't have a specific target in terms of investment or size. "We're just looking to by more as the opportunity presents itself," he says.
Bob Tuller, senior vice president and partner with NAI BT Commercial in San Francisco, marketed the property. John Ferruzzo, principal, and Barrett Gibson, senior associate with NAI Houston, represented Carson Cos., which also owns the 191,250-sf Portwall Distribution Center II at 250 Portwall St. in the northeast submarket and 80-acre Bayport Distribution Center at 4330 Underwood Rd. and 4770 New Century Dr., both in Pasadena, TX.
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