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NAI Partners' Investment Fund has officially closed on its first Fund III acquisition, Point West Business Park, a 146,000-square-foot flex industrial park located south of the Westchase District in Houston.
Keeping the form simple allowed for tilt-wall construction of the tall warehouse space and two-story office space, which proved to be more cost effective for McMillan James Equipment's headquarters.
Wharton Industrial and Walton Street plan to invest upwards of $10 million to completely transform the site, which it will rebrand as "SoPhi (pronounced, Sōfee) Logistics Center."
Last year, Amazon, ULTA Beauty and The Gap completed or announced large e-commerce fulfillment center projects in Fresno representing a $410 million total investment projected to add 3,657 new jobs.