By IvyLee Rosario
Mountain West Industrial Properties and its institutional partner has disposed of Bayport Distribution Center II, a two-building industrial warehouse project in Houston’s suburb of Pasadena. Duke Realty Corp. purchased the asset.
Located at 4331 and 4033 Underwood Road, near the port of Houston, Bayport Distribution Center II totals 772,500 square feet and was built in 2008. The property features one 600,000-square-foot building and one 172,500-square-foot building that are occupied by three tenants. Asset features include clear heights ranging from 24 to 30 feet, eight drive-in ramps and 157 dock-high doors. Comprising 41.7 acres, the property is within close proximity to Sam Houston Tollway, Interstate 45 and Highway 225.
HFF’s investment advisory team of Senior Director Trent Agnew, Senior Managing Director Rusty Tamlyn and Analyst Dane Petersen represented Mountain West in the sale.
In October, Duke Realty Corp. acquired a portfolio of two soon-to-be-developed land parcels and 10 industrial properties in Southern California, Northern New Jersey and South Florida, from Bridge Development for $700 million.
Image courtesy of HFF