HOUSTON – (Realty News Report) – TA Realty has acquired East Belt Business Park, a 350,000-square-foot, four-building industrial complex located in Houston’s Southeast submarket near the Port of Houston.
The seller, a fund advised by Morgan Stanley Real Estate Investing, was represented by JLL’s Industrial Capital Markets team. The JLL team was led by Managing Director Trent Agnew, Senior Managing Director Rusty Tamlyn, Director Charlie Strauss and Analyst Tom Weber.
“East Belt Business Park is a distinctive asset that serves a range of tenant sizes in a market dominated by large-box development,” Agnew said. “This was a highly competitive sale that demonstrated strong investor demand for well-located, high-quality properties with upside potential.”
Developed in two phases, in 2004 and 2008, East Belt Business Park includes two rear-load buildings and two cross-dock buildings. The campus offers 20- to 24-foot clear heights, 114 dock-high doors, 14 drive-up ramps, 510 parking spaces and truck courts ranging from 120 to 180 feet. Built by Trammell Crow, the property has maintained occupancy above 90 percent since it was completed.
The site sits on 23.7 acres at 1455–1485 East Sam Houston Parkway South. The Southeast submarket is Houston’s second-largest industrial submarket. With frontage along Beltway 8 (Sam Houston Tollway), East Belt Business Park is approximately three miles from the Port of Houston, a 25-mile waterway that handles thousands of vessels and barges annually.
TA Realty, headquartered in Boston, has managed, acquired or invested in approximately $30 billion of real estate since its founding in 1982.
Feb. 24, 2020 Realty News Report Copyright 2020
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