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STAFFORD, TX—Another sale has taken place in this Houston suburb, this time involving the Stafford Commerce Center. A subsidiary of STAG Industrial Inc. purchased the class-A 68,300-square-foot industrial distribution warehouse for an undisclosed price. The seller was Black Flag Properties.
Stafford Commerce Center is fully leased to Quest Design and Fabrication. The facility was constructed in 2016 and features 24-foot clear heights, a 130-foot truck court, 8,548 square feet of office space and 14 dock-high loading doors.
This suburb is approximately 20 miles southwest of downtown Houston. The commerce center is in the Southwest industrial submarket on 4.869 acres at 13720 Stafford Rd. It is proximate to Interstate 69, Beltway 8 and Highway 90, which provide access to the area's growing residential population.
The Holliday Fenoglio Fowler LP investment advisory team representing the seller included senior director Trent Agnew and senior managing director Rusty Tamlyn along with analyst Charlie Strauss. HFF acted by and through Holliday GP Corp., a Texas licensed real estate broker.
“Stafford Commerce Center is a high-quality building that originally was 75% pre-leased to Quest Design and Fabrication and, ultimately, Quest took the balance and leases 100% under a long-term lease,” Agnew tells GlobeSt.com. “The profile is a great fit for STAG Industrial, and we were able to put together a deal off market that was a win-win for both buyer and seller.”
Black Flag Properties is a privately held real estate development company located in Houston. The company's primary focus is the acquisition of strategic land sites, whereby its investors can benefit from the value add of both horizontal and vertical development opportunities.
STAG Industrial Inc. is a REIT focused on the acquisition and operation of single-tenant industrial properties throughout the United States.
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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.
