LAPORTE, TX—Denver-based Black Creek Group recently purchased a 140,275-square-foot class-A industrial building, Port 146. The seller was Seller Clay Development & Construction Inc. and the price was undisclosed.

The transaction closed last week but has been in the pipeline anticipating development completion, GlobeSt.com learns. The development project began about a year ago.

"The Black Creek team is definitely monitoring the (COVID) situation and we'd be naive to think industrial's not going to be impacted," Mace McClatchy, Black Creek's senior vice president, market officer for the South-Central region, tells GlobeSt.com. "But with the consumer goods movement and e-commerce boost going on right now, it's a good sector to be in. We're happy to be an industrial company right now and are still closing transactions in the sector."

The rear-load dock-high warehouse has 32-foot clear height, 50 by 52-foot column spacing with 60-foot loading bay, ESFR sprinkler system and ample trailer storage. The asset is located at 2020 N. Highway 146 at the intersection of Highway 146 and Highway 225, less than 3 miles from the Barbours Cut Terminal Gate, eliminating the need to access a major highway.

The seller's brokers were Andrew Jewett and Jason Dillee of Cushman & Wakefield.

"We are seeing activity in multiple markets, which bodes well for the industrial sector," Briana Ochiltree, vice president, brand communications and real estate marketing with Black Creek Group. "Overall, industrial is well positioned with long-term valuation."

Black Creek Group is a 25-year-old real estate investment management firm with a focus on primary and secondary tier 1 coastal and inland markets. The firm has five regional offices across the country serving the West, South Central, Southeast, North Central and Northeast in addition to its Denver headquarters, which are indicative of the markets where Black Creek is focusing its investment influence.

"This gives us boots on the ground that are digging up real time value-add investments," McClatchy tells GlobeSt.com.

Houston started 2020 with healthy job gains led by leisure, hospitality and health industries. Service-providing industries were accelerating, while goods-producing sectors had slight contractions, with modest to no growth in manufacturing, as noted in NAI Partners' Houston industrial market update. During the past few weeks, oil and stock markets have been whirling from the impacts of COVID-19 on world economies and a flood of crude from OPEC so the job outlook is uncertain at the moment.

Instant Insights /

Black Creek Believes in Strength of Industrial Investments

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