National Logistics Real Estate Operating Platform Adds 203,421 SF Warehouse
to Existing Seven Million sq.-ft Industrial Portfolio
March 3, 2022 – Houston, TX – Arden Logistics Parks, (ALP) a best-in-class logistics real estate operating platform launched by the Arden Group and specializing in the acquisition, improvement and property management of light industrial business parks across the country, today announced the acquisition of 9525 Wallisviile, a two-building complex located in Houston, TX. The acquisition adds 203,421 sq. ft. of prime industrial space to ALP’s existing seven and a half million-sq.-ft. national portfolio – and now more than a million square feet in Houston.
Shike Goedar, Barbara Rea and Christian Vergilio, serving as ALP’s President and Chief Investment Officer, Chief Operating Officer, and Director of Acquisitions respectively, made the announcement.
“The industrial sector throughout the country continues to set new records, as demand by logistics and e-commerce companies far outpaces supply,” said Ms. Rea. “We are thrilled to close on the acquisition of this asset located in one of the nation’s top industrial core submarkets, strategically situated in the urban east side of Houston, which offers direct access and utilization of the Port of Houston.”
Built in 1999 and renovated in 2008 and again in 2014, 9525 Wallisville is a two-building, low coverage industrial complex featuring clear heights ranging from 24’ to 30’. The facility is ideally located in the Northeast I-10 Houston industrial submarket which consists of 4.6 million square feet of inventory, with logistics facilities accounting for a large proportion of the total submarket. Vacancy rates are the tightest in the MSA at 2.0%, outpacing overall Houston Industrial vacancy rates of 6.8%
“9525 Wallisville adds an irreplaceable low coverage industrial site to our portfolio at a significant discount to relevant comps,” commented Christian Vergilio. “The fully occupied facility is located in one of the tightest submarkets in Houston and houses one of the largest steel and metals distributors globally.”
The Jones Lang Lasalle (JLL) Houston Investment Sales team of Rusty Tamlyn, Trent Agnew, Charlie Strauss and Jack Moody represented the seller in the transaction. The JLL Debt Capital Markets team of James Brolan and John David Johnson arranged the financing on behalf of ALP.
In addition to the recently acquired Hardy Light Industrial Portfolio near Houston George Bush Intercontinental Airport, ALP’s national portfolio currently includes properties in the Atlanta, Charlotte, Columbus, Dallas, Houston, Indianapolis, Philadelphia, San Antonio, and Tampa markets. For more information, please visit https://www.ardenlogisticsparks.com.
About Arden Logistics Parks
Established by Arden Group in 2021 as a best-in-class logistics real estate operating platform, Arden Logistics Parks specializes in the acquisition, improvement and property management of light industrial business parks. The real estate investment business operates a geographically diverse portfolio of last mile facilities in highly sought-after urban infill locations. For more information, please visit https://www.ardenlogisticsparks.com.
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