High Street Logistics Properties acquired Northwest Spur Industrial Park, a six-building rail-served industrial portfolio totaling 1M SF.
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The industrial park is on 44 acres at 9200-9300 Baythorne Drive in Northwest Houston. The property is fully occupied by 14 tenants in industries including packaging and plastics manufacturing, industrial supply, and food and beverage.
Five of the six buildings at Northwest Spur Industrial Park are directly served by a Union Pacific rail line.
“High Street recognized the exceptional fundamentals of a fully occupied, rail-served industrial park in an infill location that would be prohibitively expensive to replicate today,” Trent Agnew, senior managing director for JLL Capital Markets, said in a press release.
JLL Capital Markets’ Agnew, Charlie Strauss, Lance Young, Brooke Petzold and Dawson Hastings represented the undisclosed seller of the property.
High Street Logistics Properties was founded in Boston in 2002 by former executives of Trammell Crow Co. The private equity investment management firm has acquired 70M SF of property worth $6B throughout 16 markets.
Houston industrial investment sales surged 80% month-over-month in May, totaling $1.4B for the year, according to CommercialCafe. That puts Houston second in the South Region for highest dollar volume of industrial investment sales, following Dallas’ $2.3B.
Other major industrial transactions in Houston this year include PlaceMKR’s acquisition of Rankin Yards, a 17-building advanced manufacturing campus in North Houston; Outrigger Industrial’s sale of a 1M SF building in Generation Park; and Bleecker Partners’ purchase of an 880K SF infill portfolio throughout the region.
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