CapRock Buys 500,000-SF Warehouse, Market briefs

HOUSTON, – Janko Group has sold its Kennedy Greens Distribution Center at 13300 John F. Kennedy Blvd.in North Houston, Cushman & Wakefield reported.

The buyer of the 524,119-SF warehouse was Newport Beach, Calif.-based CapRock Partners.

Cushman & Wakefield’s Jim Carpenter, Jud Clements, Robby Rieke, David Munson and Trevor Berry represented the seller, Riverwoods, Ill.-based Janko Group.

Kennedy Greens Distribution Center, built in 2020, is located in the robust North Houston industrial submarket and features 36-foot clear height, LED lighting, abundant trailer parking and fenced secured truck courts.

Kennedy Greens Distribution Center is fully leased, with the property occupied by investment-grade tenants and warehouse space for Walmart. The Walmart lease expires in 2027.

The development is located about three miles south of the George Bush Intercontinental Airport and 12 miles north of Downtown Houston.

“Kennedy Greens Distribution Center drew strong investor interest due to its investment grade tenant roster, premier design features, and location,” said Munson, Cushman & Wakefield Executive Managing Director. “This Class-A development will continue to see an outsized share of rent growth and investor returns due to the limited tier-one development sites in North Houston and overall robust industrial market fundamentals.”

Kennedy Greens Distribution Center was developed by Clay Development & Construction, a Houston firm led by Robert Clay.