Friday, December 29, 2017

HFF announces sale of 2-building Class A industrial project near the Port of Houston

Trent Agnew
HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Bayport Distribution Center II, a two-building, Class A, fully leased industrial warehouse project totaling 772,500 square feet in the southeastern Houston suburb of Pasadena near the Port of Houston. 

The HFF team represented the seller, Mountain West Industrial Properties and their institutional partner.  Duke Realty Corporation purchased the property for an undisclosed price. 

Bayport Distribution Center II was constructed in 2008 and comprises one 600,000-square-foot building and one 172,500-square-foot building that are occupied by three tenants.  

The building features clear heights ranging from 24 to 30 feet and a total of 157 dock-high doors and eight drive-in ramps.  Situated on 41.71 acres at 4331 and 4033 Underwood Road in Pasadena, the property is located in the Southeast industrial submarket and near the Port of Houston, which is the nation’s leading breakbulk port and ranked No. 1 in the U.S. in foreign waterborne tonnage, No. 1 in the U.S. in imports and No. 2 in the U.S. in total tonnage.  

Rusty Tamlyn
Additionally, Bayport Distribution Center II is near Sam Houston Tollway (Beltway 8), which allows access to two critical Houston thoroughfares, Interstate 45 and Highway 225. 

HFF’s investment advisory team included senior director Trent Agnew and senior managing director Rusty Tamlyn as well as analyst Dane Petersen. 

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.
HFF Director, Public Relations
(617) 338-0990

JLL brokers $40 Million sale of Arizona and Colorado industrial portfolio

Mark Detmer
 PHOENIX, AZ – JLL’s Capital Markets experts announced the company completed the sale of the Western U.S. Industrial Multi-Tenant Portfolio. JLL represented the seller, BPP Pacific. Artis REIT purchased the nine-building portfolio for $40 million.

The portfolio totals 379,487 square feet and includes three industrial parks: Rocky Mountain Business Center located in Aurora, Colorado, and Roosevelt Commons and Superstition Springs in Mesa and Tempe, Arizona, respectively.

Managing Directors Mark Detmer, Bo Mills and Vice President Ryan Sitov led the JLL team on the sale with local market support from Executive Vice Presidents Pat Harlan and Steve Sayre in Phoenix, and Managing Director Mitch Zatz and Vice President Carm Hicks in Denver.

“This was an excellent opportunity to purchase institutional quality assets that are well-located throughout the Western United States,” said Detmer.

“The sale of this portfolio reinforces the strength of these markets, especially in Denver where high-level investor interest was piqued by exceptional fundamentals and a choice asset,” said Hicks. “Our clients had solid buyer choices, which was evident in the amount of tours and requests for market intel.”

Bo Mills
The portfolio is currently 92 percent leased to 17 different tenants across a diverse range of industries.

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Stacey Hershauer                
Phone: +1 480-600-0195