HOUSTON—CBRE has been chosen to exclusively market the Beltway Crossing Industrial Portfolio – four newly constructed, Class A industrial buildings totaling 490,880 square feet. Three of the four buildings are fully leased and the portfolio as a whole is 96% leased.
The Beltway Crossing Portfolio was developed by Stream Realty Partners. The properties are located at 13323–13513 South Gessner Road in a master planned business park with excellent access to Highway 59 and Beltway 8 (Sam Houston Parkway). Additionally, the buildings boast Triple Freeport exemption, functional multi-tenant design, new construction (2009 & 2013), T-5 lighting, ESFR sprinklers, 140' to 225' truck courts, low office percentages (approximately 4%), and 28' clear heights.
“This is a rare opportunity to acquire Class A industrial product in Houston that boasts a low percentage office build out, 2009 vintage rent roll, and an irreplaceable location off the Beltway,” stated Josh McArtor, executive vice president with CBRE.
The Beltway Crossing Portfolio offers investors the unique opportunity to acquire a critical mass of core industrial product in a Tier 1 market with a value-add component due to low average in-place rents (compared to market). More than half of the Portfolio was built in 2009, prior to the economic recovery, and leased at depressed rental rates. This allows future ownership to capitalize on significant growth upon lease renewal.
Jack Fraker, Josh McArtor, Jonathan Bryan, and Heather McClain Venegoni with CBRE are representing the Sellers in the transaction.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
