NEW YORK CITY-An affiliate of locally based KTR Capital Partnershas closed on the acquisition of two industrial assets, marking thefourth and fifth acquisitions by KTR announced thus far in 2011.Combined, the two properties at 24760 S. Main St. in Carson, CA and6225 W. Sam Houston Pkwy. in Houston total 308,875 square feet.
“This was a unique off-market opportunity to acquire twofacilities that are in exceptional locations within theirrespective markets,” says Brian Gagne, VP of investments at KTR, ina release. Gagne calls the Main Street asset in Carson “a trophySouth Bay facility that has been occupied since its construction in1991,” while the Houston asset is "a build-to-suit with directfrontage on the Sam Houston Tollway in a location that caters verywell to users in the Northwest submarket.”
Terms of the acquisitions were not disclosed; a KTR spokeswomandeclines to identify sellers or pricing. Real Capital Analyticsdata indicate that the Carson asset—KTR’s second buy in thatSouthern California city since last June—traded for $24.9 millionand that developer Paul Amir was the seller. The231,000-square-foot warehouse property is 100% occupied by DSJ WestInc., according to RCA.
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