PASADENA, Texas – (Realty News Report) – CenterPoint Properties has acquired a 601,261-square-foot, rail-served industrial building on 31 acres at 3507 Pasadena Freeway in Pasadena, strategically located near the Port of Houston.
Major Rail Access
This Class A distribution facility offers an uncommon combination of rail service from Union Pacific, BNSF and Kansas City Southern via the Port Terminal Railroad Association. The site provides ample rail car capacity and outdoor storage, along with strong connections to regional highways and port infrastructure.
“The rail service, extensive storage and adjacent transload road make this property one of the most desirable in the market,” said Danielle Radtke, CenterPoint Senior Vice President, Asset Management. “Situated at the intersection of Beltway 8 and Highway 225 and near the heart of Houston’s petrochemical complex and the Port, the property benefits from exceptional transportation access.”
JLL Brokers the Deal
Rusty Tamlyn, Trent Agnew and Charles Strauss of JLL Capital Markets represented the transaction between Illinois-based CenterPoint and Link Logistics Real Estate.
Designed for regional distribution, the building includes six rail spurs, giving it greater rail car storage capacity than most comparable rail-served facilities in the area. The warehouse also features a 32-foot clear height, supporting a variety of logistics and storage needs.
CenterPoint’s Nationwide Port Strategy
Although the Pasadena Freeway site is under 20 miles from downtown Houston, its primary advantage derives from direct proximity to the petrochemical industry, multiple regional highways and the Port of Houston’s container terminals. Barbours Cut Container Terminal is about 12 miles from the property, while Bayport Terminal is approximately 16 miles away.
The Port of Houston ranks at the top nationally for total waterborne tonnage, foreign waterborne tonnage and vessel transits. It is also the sixth-largest container port in the United States and the fastest-growing among the top 10 U.S. container ports. Recent demand for industrial space in port-adjacent areas has increased, and leasing activity in these locations is expected to remain strong.
“This asset aligns extremely well with CenterPoint’s national port investment strategy,” said Rives Nolen, CenterPoint Senior Vice President, Investments.
Feb. 12, 2021 Realty News Report Copyright 2021
File: CenterPoint Buys 601,000 SF Building
Image: Courtesy CenterPoint
File: (2) JLL. CenterPoint Buys 601,000 SF Building in Pasadena. Bayport Terminal. Barbours Cut. Rives Nolen.