Bleecker Partners Buys Houston Industrial Collection

Dallas-based Bleecker Partners has expanded its Houston industrial holdings through a five-asset, 880,000-square-foot portfolio acquisition. It’s the market’s biggest Class B collection deal of the year so far, according to the company.

NBH Bank provided an acquisition loan, Yardi Matrix information shows. Eastdil Secured represented the seller, a local family.

The newly acquired assets are industrial parks, manufacturing facilities and last-mile distribution centers. They include:

• Northeast Trade Center, 5400 Mesa Drive
• Jester Plaza, 3500 W. T.C. Jester Blvd.
• Wayside Business Center, 4300 S. Wayside Drive
• Harwin Business Park, 9301-9307 Harwin Drive
• Scranton Manufacturing and Distribution Park, 8700-9000 Scranton St.

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All 28 industrial buildings rise along Interstate 610, a nearly 38-mile thoroughfare looping around Houston. The warehouses are scattered throughout the metro’s Northwest, Northeast, Southeast and West submarkets, which include major transportation hubs such as the Houston Ship Channel, the Union Pacific Englewood Yard and William P. Hobby Airport.

Bleecker aims to capitalize on Houston’s structural tailwinds, such as near-shoring activity and energy-transition supply chains, as well as the growing demand for distribution centers. This latest acquisition brought the company’s footprint to 40 owned and operated facilities in the metro and more than 7 million square feet of industrial space across Texas.

Houston’s pricing fuels investment opportunities

Industrial deals throughout Houston generated a combined $759 million during the first four months of the year, according to a Yardi Matrix report. Other port markets fared better, such as New Jersey ($1.3 billion) and Los Angeles ($829 million).

The metro’s prices lagged many other markets, as well as the national average, the same source shows. Industrial assets traded for $90 per square foot across Houston, 34.8 percent below the U.S. average of $138 per square foot.

In one of April’s deals, CenterPoint Properties acquired two warehouses encompassing 192,318 square feet. The assets were in Houston’s Southeast submarket.