HOUSTON—The supply/demand imbalance in Houston coupled with strong population growth and solid industrial fundamentals will continue to push pricing for quality assets. So says CBRE National Partners regarding the sale of Techway Southwest, a 414,540-square-foot institutional quality industrial portfolio in southwest Houston.
Cabot Properties purchased the portfolio from EastGroup Properties of Jackson, MS for $33 million, GlobeSt.com learns. The four-building portfolio was 100% leased at the time of sale to a diverse range of tenants, including Bass Computers and Sun & Ski.
CBRE's Jack Fraker, Randy Baird, Heather McClain Venegoni and Tom Lynch arranged the transaction on behalf of the seller.
“The class-A institutional quality construction of Techway Southwest will continue to draw national and regional tenants to these assets and push rental rates,” said Lynch.
The buildings are located on Bissonnet Boulevard, near Beltway 8 with convenient access to other major Houston arteries, including Highway 59, Westpark Toll Road and Interstate 45. The property is south of Interstate 10 West.
“We are pleased to be a part of this transaction between EastGroup and Cabot as it demonstrates the continued institutional demand for quality industrial product in Houston,” said McClain Venegoni.
The Techway Southwest Business Park is a four-phase development built on approximately 20 acres. The park has the only modern bulk distribution buildings located in Southwest Houston. It is a dock-high loading facility. Alief I.S.D. and the city of Houston offer Freeport Tax Exemption.
“The supply/demand imbalance in Houston coupled with our exceptional population growth and solid industrial fundamentals will continue to push pricing for quality assets like Techway Southwest,” McClain Venegoni tells GlobeSt.com.
CBRE National Partners operates under a partnership model. It completed 228 dispositions in 2016 totaling 132 million square feet valued at $10 billion.
HOUSTON—The supply/demand imbalance in Houston coupled with strong population growth and solid industrial fundamentals will continue to push pricing for quality assets. So says CBRE National Partners regarding the sale of Techway Southwest, a 414,540-square-foot institutional quality industrial portfolio in southwest Houston.
Cabot Properties purchased the portfolio from EastGroup Properties of Jackson, MS for $33 million, GlobeSt.com learns. The four-building portfolio was 100% leased at the time of sale to a diverse range of tenants, including Bass Computers and Sun & Ski.
CBRE's Jack Fraker, Randy Baird, Heather McClain Venegoni and Tom Lynch arranged the transaction on behalf of the seller.
“The class-A institutional quality construction of Techway Southwest will continue to draw national and regional tenants to these assets and push rental rates,” said Lynch.
The buildings are located on Bissonnet Boulevard, near Beltway 8 with convenient access to other major Houston arteries, including Highway 59, Westpark Toll Road and Interstate 45. The property is south of Interstate 10 West.
“We are pleased to be a part of this transaction between EastGroup and Cabot as it demonstrates the continued institutional demand for quality industrial product in Houston,” said McClain Venegoni.
The Techway Southwest Business Park is a four-phase development built on approximately 20 acres. The park has the only modern bulk distribution buildings located in Southwest Houston. It is a dock-high loading facility. Alief I.S.D. and the city of Houston offer Freeport Tax Exemption.
“The supply/demand imbalance in Houston coupled with our exceptional population growth and solid industrial fundamentals will continue to push pricing for quality assets like Techway Southwest,” McClain Venegoni tells GlobeSt.com.
CBRE National Partners operates under a partnership model. It completed 228 dispositions in 2016 totaling 132 million square feet valued at $10 billion.
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