Warehouse Sold Near Port of Houston: Major Industrial Property Transaction
High Street Logistics Properties, a Boston-based real estate firm, purchased a 129,527-square-foot distribution facility in Baytown, Texas.
HOUSTON – (Realty News Report) – High Street Logistics Properties, a Boston-based real estate firm, has acquired a 129,527-square-foot distribution facility in Baytown, near Houston.
Completed in 2009, the Cedar Crossing Distribution Center is fully leased to Merih Cotton Corp., a family-owned and operated Houston-based cotton distributor.
JLL marketed the property on behalf of the sellers, Mountain West Industrial Properties and Galveston-based American National Insurance Company.
The JLL Industrial Capital Markets team representing the sellers included Managing Director Trent Agnew, Senior Managing Director Rusty Tamlyn, Director Charlie Strauss and Analyst Ethan Goldberg. Senior Vice President Richard Quarles handled leasing on behalf of the sellers.
Cedar Crossing Distribution Center sits within the 15,000-acre Cedar Port Industrial Park, the largest master-planned, rail-served industrial park in North America. The park, owned by TGS, is served by both Union Pacific Railroad and BNSF Railway.
“The Southeast Industrial submarket lacks options for smaller tenants, as most recent development has focused on big-box buildings, so Cedar Crossing will continue to draw strong interest from tenants that need proximity to the Port of Houston,” said Trent Agnew. “We were very pleased with both the buyer’s and seller’s ability to complete this transaction during the COVID-19 pandemic.”
