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| Trent Agnew |
HOUSTON, TX – JLL Capital Markets announces
that it has closed the sale of Cedar Crossing Distribution Center, a 100-percent leased, single-tenant, 129,527-square-foot
distribution facility in the Houston-area community of Baytown, Texas.
JLL marketed the property on behalf of the seller, Mountain West
Industrial Properties and American National Insurance Company. High Street
Logistics Properties purchased the asset.
Completed in 2009, Cedar Crossing Distribution Center is fully
leased to Merih Cotton Corporation, a family owned and operated Houston-area
cotton distributor that has been in business for upwards of 35 years.
The front-load building features a 24-foot clear
height, 33 dock-high doors, one drive-up ramp and low office finish. Situated
on 7.37 acres at 3710 Cedar Blvd., the property provides exceptional access to
the Port of Houston’s two dedicated container terminals, Barbour’s Cut (5.6
miles) and Bayport Container Terminal (9.4 miles).
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| Rusty Tamlyn |
Cedar Crossing Distribution Center is also
within the 15,000-acre Cedar Port Industrial Park, which is the largest
master-planned, rail-served industrial park in North America.
The JLL Industrial Capital Markets team that represented the
seller was led by Managing Director Trent Agnew, Senior
Managing Director Rusty Tamlyn, Director Charlie Strauss and
Analyst Ethan Goldberg along with Senior Vice President Richard
Quarles, who leased the building on behalf of the seller.
“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.”
For more news, videos and research resources on JLL, please visit
the firm’s U.S. media center Web page: U.S. newsroom.
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| Charlie Strauss |
About JLL
JLL (NYSE: JLL) is a leading professional services firm that
specializes in real estate and investment management.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit jll.com.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit jll.com.
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| Ethan Goldberg |
About Mountain West Industrial Properties
Mountain West Industrial Properties specializes in the
development, ownership and operation of multi-tenant industrial real estate
assets.
The company takes an entrepreneurial, hands on approach with regards to its properties, user clients, and partners.
Mountain West Industrial Properties prides itself on its focused and responsible oversight in its portfolio managements and investments, providing a superior service to tenants, users and investors.
By specializing in flex and bulk distribution warehouse properties, the firm is afforded a deep understanding of the market while growing its expertise in the needs and requirements of its clients.
Mountain West focuses its services in the industrial sector via three distinct strategies: acquisition, development and third-party management.
The company takes an entrepreneurial, hands on approach with regards to its properties, user clients, and partners.
Mountain West Industrial Properties prides itself on its focused and responsible oversight in its portfolio managements and investments, providing a superior service to tenants, users and investors.
By specializing in flex and bulk distribution warehouse properties, the firm is afforded a deep understanding of the market while growing its expertise in the needs and requirements of its clients.
Mountain West focuses its services in the industrial sector via three distinct strategies: acquisition, development and third-party management.
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| Richard Quarles |
About American National Insurance Company
American National Insurance Company (American National),
headquartered in Galveston, Texas, was founded in 1905 and is licensed in all
states except New York.
American National and its subsidiaries offer a broad line of products and services, which include life insurance, annuities, health insurance, credit insurance, pension products and property and casualty insurance for personal lines, agribusiness and certain commercial exposures.
The family of companies operates in all 50 states. For more information, including company news and investor relations information, please visit the company’s web site at americannational.com.
American National and its subsidiaries offer a broad line of products and services, which include life insurance, annuities, health insurance, credit insurance, pension products and property and casualty insurance for personal lines, agribusiness and certain commercial exposures.
The family of companies operates in all 50 states. For more information, including company news and investor relations information, please visit the company’s web site at americannational.com.
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| Cedar Crossing Distribution Center, Baytown, TX |
About High Street Logistics Company
High Street Logistics
Properties was founded in Boston in 2002 by senior executives
of one of the nation’s pre-eminent real estate development, investment and
services companies.
CONTACT:
Kimberly Steele
JLL
Senior Associate
Public
Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
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