HIDALGO, TX-In a move to beef up its industrial properties in border towns, GlobeSt.com has exclusively learned that BH Properties LLC acquired the 313,120-square-foot Tres Puentes Distribution Center for $8.6 million through Auction.com. Tres Puentes represents BH Properties' second buy in the region; it already owns a 209,000-square-foot industrial building on Galveston Avenue in McAllen, TX.
“The Tres Puentes purchase falls in line with our focus on border town industrial properties,” comments Steve Jaffe, BH Properties' executive vice president and general counsel. “We will look to add to our border holdings in Texas, Arizona and California over the next two years.”
The buy is the Southern California investor's third through Auction.com. Earlier this year, BH Properties closed on a 147,194-square-foot office property in Riverside, CA for just under $10 million.
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