Holliday Fenoglio Fowler, L.P. (HFF) announces the closing of Apex Distribution Center, a three-building, Class A industrial warehouse facility totaling 410,600 square feet in Houston’s Northwest Industrial submarket.
The HFF team represented the seller, Crow Holdings Industrial. WPT Industrial Real Estate Investment Trust purchased the property for an undisclosed price.
Building one at Apex Distribution Center was completed in 2005 as a design-build for a previous tenant and was expanded in 2015 to add two new buildings. The 86.2-percent-leased project features clear heights ranging from 28 to 32 feet, truck depths ranging from 120 to more than 185 feet, a total of 81 dock doors, five drive-up ramps and less than 10 percent office finish. Situated on 24.76 acres at 5750 Brittmoore Road and 10618-10634 Tanner Road, Apex Distribution Center is 0.3 miles west of where Tanner Road intersects with the West Sam Houston Parkway (Beltway 8) in the Northwest Industrial submarket. This location provides access to Interstate 10, Highway 290, The Sam Houston Parkway and Loop 610.
HFF’s investment sales team included senior director Trent Agnew and senior managing director Rusty Tamlyn.
“Apex Distribution Center garnered interest from a ‘Who’s Who’ list of institutional investors as it checked all the boxes for what they are looking for in terms of location, tenancy, weighted average lease term and construction quality,” Agnew said. “Crow Holdings Industrial built a great project, and we are excited to have been a part of the sale.”
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.
About Crow Holdings Industrial
Crow Holdings Industrial (CHI) is focused on the development of speculative and build-to-suit warehouse/distribution, manufacturing and fulfillment facilities in major distribution markets across the country. For more information, please visit www.CrowHoldingsIndustrial.com.
About WPT Industrial Real Estate Investment Trust
WPT Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been formed to own and operate an institutional-quality portfolio of primarily industrial properties located in the United States, with a particular focus on warehouse and distribution industrial real estate. WPT Industrial, LP (the REIT's operating subsidiary) indirectly owns a portfolio of properties consisting of approximately 16.1 million square feet of gross leasable area, comprised of 48 industrial properties and two office properties located in 13 states within the United States. For more information, visit http://www.wptreit.com.
About HFF
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
