A partnership between Transwestern Development Co. and UBS Realty Investors has completed the sale of a 238,000-square-foot industrial facility, the final phase of West Ten Business Park in Katy, Texas. Stonelake Capital Partners acquired the property, which serves as a last-mile distribution center for Amazon. The deal included a 15-acre parking lot with 1,100 spaces and 14 acres of vacant land.
Located at 28420 W. Ten Blvd., the single-story property was completed in 2019 as a speculative development. That same year, Amazon signed a 10-year, full-building lease. The agreement includes 2.25 percent annual rent increase options. The facility has a 6.1 percent office component, 32-foot clear height, 60 dock-high and four grade-level doors, ESFR sprinklers and motion-activated lighting.
Transwestern and UBS acquired 74 acres of land in West Ten Business Park from Parkside Capital in 2014. Transwestern developed the first phase—two warehouses encompassing 415,000 square feet, leased and subsequently acquired by Bel Furniture. Situated just off Interstate 10, the property is 31 miles west of downtown Houston.
JLL Capital Markets Senior Managing Director Rusty Tamlyn, Managing Director Trent Agnew and Director Charlie Strauss assisted the joint venture seller in the transaction. Transwestern Managing Director Brian Gammill negotiated the disposition of the vacant lot.
Earlier this month, a Transwestern team brokered the $52.8 million disposition of another Amazon-leased property. The company occupies more than two-thirds of the 190,377-square-foot building in Springfield, Va.