Indus Enters Houston with 5 Building Logistics Portfolio, Market briefs

In Houston, New York-based Indus Realty Trust has entered the Houston market with the purchase of a five-building logistics park totaling 757,000 sq ft in North Houston.

Park 845 Crossing, located at the interchange of Interstate 45 and Beltway 8 near George Bush Intercontinental Airport, is 99% leased to 11 tenants. Occupants include foodservice distribution, tire manufacturing and distribution, HVAC wholesale, third-party logistics, and airfreight services tenants.

JLL Capital Markets represented the seller, an affiliate of Equus Capital Partners. Equus, which is based in the Philadelphia area, sold another Houston asset, the 5300 Memorial Drive office building near Memorial Park, earlier this year.

“This purchase of modern, market appropriate buildings provides a great entry for Indus into the Houston market. The park’s access and location in the strongly performing North Houston submarket and its design, which meets a wide range of tenant needs with suite sizes ranging from 8,000 sq ft to 245,000 sq ft, gives us confidence in its long-term success,” said Trey Daniel, Indus’ market officer for Texas.

Situated on nearly 40 acres, the buildings were constructed between 2008 and 2014 with clear heights from 18 to 30 feet, as stated by JLL.

“The Houston market continues to benefit from multiple demand drivers including strong demographic trends, increased manufacturing investment across a diverse range of industries, and growth at the Port of Houston,” said Michael Gamzon, President and CEO of Indus. “We are excited to enter the Houston market and are keenly focused on scaling our footprint in Texas through additional acquisitions and developments of high-quality logistics properties.”

JLL’s Trent Agnew and Charlie Strauss, along with Lance Young, Brooke Petzold, and Max Myers brokered the deal on behalf of Equus.

“Equus Capital Partners maintained a high-quality portfolio that has attracted and retained a broad range of industrial users over more than a decade,” Agnew said. “Its position at the heart of the I-45 and Beltway 8 corridor, with direct access to one of the country’s busiest air cargo gateways, made this an irreplaceable logistics asset, one that speaks to the depth and durability of the North Houston industrial story.”

The deal comes on the heels of other Indus acquisitions in Phoenix, Nashville, and Atlanta.

Indus has amassed a portfolio of 16.4 million sq ft of industrial properties. The company is owned by affiliates of global firms Centerbridge Partners and GIC. A subsidiary of the Abu Dhabi Investment Authority invests alongside Centerbridge in the ownership of Indus.