CenterPoint Properties Acquires Two-Building Portfolio in Houston, Texas
Posted By Staff Writers On August 4, 2015 @ 12:04 am
OAK BROOK, IL – CenterPoint Properties proudly announces the acquisition of more than 240,000 SF and 11 acres across two properties in Houston, Texas. Jack Fraker, Josh McArtor and Heather McClain of CBRE represented CenterPoint in the transaction between CenterPoint and the seller.
Located at 8501 North Loop East and 8786 Wallisville Road, the strategically located facilities are less than 20 miles from the Port of Houston’s Barbours Cut and Bayport Terminals, allowing for three to four daily trips. Both buildings offer close proximity to local rail and port shipping channels, situated less than one mile from the Union Pacific (UP) Settegast and UP Englewood intermodal yards, and less than four miles from the Houston Ship Channel.
The 8501 North Loop East property is fully leased, and consists of 103,950 square feet of industrial warehouse space with 25 exterior docks, 22′ clearance storage and seven rail doors. The 8786 Wallisville Road property, which is fully leased, contains 136,928 square feet of industrial warehouse space with 35 exterior docks, 18′ clearance storage and 16 rail doors.
“We are committed to growing CenterPoint’s presence in the Houston market, and acquisitions like these are essential to meeting our goals,” said Chris Tecu, Vice President, Investments of CenterPoint. “We will continue to capitalize on similar opportunities and invest in transportation-advantaged facilities that local industrial organizations rely on to stay competitive.”
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint’s portfolio includes 50.5 million square feet and 5,500 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit centerpoint.com or follow @centerpointprop on Twitter.
More Industrial Real Estate News from CenterPoint