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High Street Logistics Properties purchased the 129.5K SF Cedar Crossing Distribution Center in Baytown, Texas.
JLL marketed the property on behalf of the seller, Mountain West Industrial Properties and American National Insurance Co.
The front-load building features a 24-foot clear height, 33 dock-high doors, one drive-up ramp and low office finish. Situated at 3710 Cedar Blvd., the center is within the 15,000-acre Cedar Port Industrial Park, which is the largest master-planned, rail-served industrial park in North America.
The building is 100% leased to Merih Cotton Corp., a family-owned and operated Houston-area cotton distributor that has been in business for more than 35 years.
The JLL Industrial Capital Markets team representing the seller was led by Trent Agnew, Rusty Tamlyn, Charlie Strauss and Ethan Goldberg. JLL’s Richard Quarles leased the building on behalf of the seller. High Street Logistics Properties represented itself.
“The southeast industrial submarket lacks optionality for smaller tenants, as most development in the area is focused on big-box buildings, so Cedar Crossing will always have significant interest from tenants that need to be near the Port of Houston,” Agnew said.
“We were extremely pleased with both the buyer and seller’s ability to execute this transaction during the COVID-19 pandemic.”
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