Stan Johnson Company Completes Sale of 447,605-Square-Foot Manufacturing Facility in Greens Port Industrial Park in Houston, TX
Houston, TX, September 13, 2018 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of an industrial property located at 13770 Industrial Road in Houston, Texas. The property sold for an undisclosed price.
Stan Johnson Company’s Todd Moore represented the seller, Houston-based Hines. The buyer was an undisclosed family on a 1031 exchange. The property, which included 447,605 square feet in nine buildings on 41.53 acres, was fully leased at the time of sale to Houston-based AFGlobal Corporation. AFGlobal is a technology and manufacturing specialist, providing services and fully integrated manufacturing capabilities to clients around the world.
“The quality of the location and attractive lease structure, along with excellent market fundamentals, drove demand for this asset,” said Todd Moore, Director in Stan Johnson Company’s Houston office. “We were able to secure multiple offers from institutional and private capital geographically dispersed across the country. Hines did an excellent job structuring an attractive lease on great real estate which ultimately drove value for this asset.”
The property is located within the 650-acre Greens Port Industrial Park on the Houston Ship Channel. Greens Port is the largest private multi-tenanted industrial park in the Gulf Coast market. Dynamic growth in this submarket has largely been driven by the billions of dollars of ongoing investment in petrochemical plant and refinery expansions, along with the sustained high volume of container traffic within Houston’s port. The submarket, as well as the industrial park specifically, benefits greatly from Houston’s constant demand for rail and water access, which is used for heavy dimensional shippers, metal and steel manufacturing, as well as the plastics and petrochemical industries.
“Not many net lease deals in the Port of Houston make it to the open market,” Moore added. “A rail-served site with access to the Houston Ship Channel is going to get a lot of attention in today’s investment market, which we proved by securing multiple competitive offers.”
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale-leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of serving as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.