Colliers announces the sale of an industrial warehouse investment property located at 1612 Southcreek Lane in Houston, Texas. The seller, Trecap Southcreek Partners, was represented by Jason Tangen of Colliers. The buyer, GBP II SIP, was represented by Todd Moore and Connor Duffy, also of Colliers.
The ±27,150 square foot warehouse is on ±2.958 acres in Candle Ridge Business Park. It features four overhead grade level doors and is fiber equipped. The property also boasts 10-ton and 20-ton crane-served capability with 22-foot deck height and public water and sewer. It is located in close proximity to Hardy Toll Road, FM 1960, Interstate 45 North and Bush Intercontinental Airport.
TRECAP Management is a real estate investment, management and advisory services company. They own and manage investment portfolios that are comprised of assets in various property sectors, such as office, retail and industrial.
The property is located in Houston’s North Hardy Toll Road industrial submarket. The submarket contains 44.6 million square feet of industrial space which is currently 90.9 percent occupied and has had 1.5 million square feet of new inventory delivered over the last 12 months in the submarket. The average asking market rental rate is $8.32 per square foot and there are 2.2 million square feet of industrial space currently under construction in the submarket.
About Colliers International Group Inc.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $65 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.