KATY, TX—In 2014, Transwestern Development Company and UBS Realty Investors purchased a 74-acre site within the West Ten Business Park developed by Parkside Capital. Transwestern developed phase one consisting of two buildings totaling 415,000 square feet, which were both leased and purchased by Bel Furniture. Phase two was delivered and fully leased to Amazon in 2019.

And now, the final phase of West Ten Business Park has been sold, which includes a 238,000-square-foot last-mile facility fully leased by Amazon at 28420 West Ten Blvd. Stonelake Capital Partners purchased the 41-acre site from a joint venture between Transwestern and UBS.

"We are very pleased with the culmination of this project, achieving superior results for our investors," said Will Paton, partner at Transwestern Development Company. "Given the current market conditions, this sale is even more of a testament to both development quality and tenant creditworthiness. We appreciate Stonelake's motivation to see this transaction through despite the challenging circumstances."

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.