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. 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. is a Texas licensed real estate broker.
About Mountain West Industrial Properties
Mountain West Industrial Properties specializes in the investment, development, operation and management of multi-tenant industrial real estate assets. Its partnership provides professional management services for property owners and lenders. With a long track record of serving the needs of Mountain West’s institutional clients, the company offers a hands-on, entrepreneurial approach with regard to its properties, user clients and partners. Visit http://www.baronproperties.com/mountainwestservices for more information.
About Duke Realty Corporation
Duke Realty Corporation owns and operates approximately 145 million rentable square feet of industrial assets in 21 key U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is included in the S&P 500 Index. More information about Duke Realty Corporation is available at www.dukerealty.com.
HFF and its affiliates operate out of 25 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 advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visithfflp.com or follow HFF on Twitter @HFF.