Black Creek Group Acquires Crow Development Project
Photo credit: Jud Haggard
HOUSTON – Black Creek Group, a Denver-based investment and development firm, has purchased Stafford Grove Industrial Park, a three-building warehouse complex totaling 351,960 square feet located in Stafford on Houston’s southwest side.
The seller, an investment group led by Crow Industrial Holdings, was represented in the transaction by Trent Agnew and Rusty Tamlyn of HFF, with support from HFF analyst Dane Petersen.
Completed in 2017, the development sits at the corner of Murphy Road and West Airport Boulevard and offers a strategic infill location that is attractive to logistics and distribution users.
The property is currently 84.5 percent leased to seven tenants, leaving two available spaces totaling 54,550 square feet. Building specifications include clear heights ranging from 24 to 30 feet, a combined 120 dock-high doors, 130-foot truck courts, three drive-up ramps, and 38 trailer parking spaces serving each building.
“Stafford Grove is one of the premier developments to deliver this cycle in Houston due to its infill location, beneficial tax savings for users and overall site flexibility,” Agnew said. “Accordingly, the buyer pool included a broad mix of core funds, institutional advisors and private capital, which mirrors what we are seeing nationwide for comparable assets.”
