TradeLane Properties Expands Texas Portfolio 5-Building Houston Acquisition
Oakbrook Terrace, IL – TradeLane Properties, a privately held industrial real estate investment company, has purchased a 5-building light industrial park totaling 448,216 square feet adjacent to George Bush International Airport (IAH) in Houston, TX.
TradeLane Airport Center - Houston was acquired within the TradeLane Properties U.S. Industrial Fund II, L.P., a value-add investment fund focused on key Central U.S. logistics markets. The portfolio, with four of the five assets configured for multiple tenants, was constructed between 2007-2015. The buildings were 88% leased at closing to thirteen diverse customers with an average weighted lease term of under three years. TLP will immediately begin park improvements including roof replacement, landscaping, exterior paint and new signage.
This transaction is consistent with TradeLane Properties’ strategy of investing in select major Central U.S. logistics markets creating the opportunity to add value through in-house capabilities inclusive of dedicated construction, property management and accounting teams.
TradeLane Properties would like to thank Randy Baird and Nathan Wynne from CBRE National Partners for their assistance in this transaction.
About TradeLane Properties
TradeLane Properties is a privately held industrial real estate company committed to harnessing its founders’ expertise in acquiring, developing, redeveloping, and operating industrial real estate facilities focused on the Central U.S. markets of Chicago, Cincinnati, Columbus, Indianapolis, Louisville, Dallas-Fort Worth and San Antonio. For more information, visit www.tradelaneproperties.com or call Kari Lavezzi at (630) 320-5501.