HOUSTON — JLL Capital Markets has closed the sale-leaseback of a 133,480-square-foot industrial distribution facility located at 7350 Langfield Road in northwest Houston.
Denver-based Industrial Property Trust (IPT) acquired the asset. Flooring distributor T&L Distributing will remain in the building under a full-building leaseback to IPT.
The JLL advisory team on the transaction included Dustin Volz, Kevin McConn, Zane Marcell and Grant Matthews.
Steady population growth and expanding consumer goods demand have driven sustained need for high-quality distribution space in Houston. The northwest industrial submarket in particular has attracted owners and occupiers of warehouse and distribution facilities in recent years. According to JLL research, the northwest market led all Houston submarkets in occupancy gains in the second quarter of 2017, recording approximately 775,000 square feet of positive net absorption.
In addition to its Houston headquarters, T&L Distributing operates seven regional warehouse locations that serve Texas, Oklahoma, Louisiana, Mississippi, New Mexico and Arkansas.
Key features of the 7350 Langfield facility include 34 dock-high doors, 30-foot clear heights, outside storage capacity, and convenient access to U.S. Highway 290 and Beltway 8.
The seller was Warrior Creek Realty, an entity affiliated with the owner of T&L Distributing. The same ownership sold the property to IPT and continues to occupy it through the tenant, T&L Distributing.