{"id":1004167580,"date":"2017-02-27T02:48:10","date_gmt":"2017-02-27T10:48:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004167580"},"modified":"2022-12-09T02:21:46","modified_gmt":"2022-12-09T10:21:46","slug":"roxborough-buys-houston-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/roxborough-buys-houston-industrial-portfolio\/","title":{"rendered":"Roxborough Buys Houston Industrial Portfolio"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><strong>Houston<\/strong>\u2014Roxborough Fund I LP has snapped up a piece of Houston\u2019s inviting industrial market. The affiliate of real estate investment firm The Roxborough Group recently partnered with Triten Real Estate Partners LLC on the acquisition of an approximately 527,000-square-foot portfolio of light industrial facilities.<\/p>\n<div id=\"attachment_1004167581\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Market-Street-Distribution-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004167581\" data-attachment-id=\"1004167581\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/roxborough-buys-houston-industrial-portfolio\/market-street-distribution-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Market-Street-Distribution-Center.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Market Street Distribution Center\" data-image-description=\"&lt;p&gt;Market Street Distribution Center &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Market Street Distribution Center &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Market-Street-Distribution-Center.jpg?w=800\" class=\"wp-image-1004167581 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Market-Street-Distribution-Center.jpg\" alt=\"Market Street Distribution Center \" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Market-Street-Distribution-Center.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Market-Street-Distribution-Center.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Market-Street-Distribution-Center.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004167581\" class=\"wp-caption-text\">Market Street Distribution Center<\/p><\/div>\n<p>The collection of assets comprises Market Street Distribution Center in the Eastside submarket; Westchase Business Center in the Westchase submarket; and Plaza Del Oro, which sits within close proximity to the Texas Medical Center.\u00a0 The portfolio is 97 percent leased, and the strength of its individual submarkets indicates that the properties\u2019 high occupancy level will hold for the long term. \u201cEach of these well-located assets serve demand that is insulated from the volatility in the energy markets,&#8221; Dan Kodner, vice president of The Roxborough Group, said in a prepared statement.<\/p>\n<p>Roxborough and TREP aren\u2019t sharing details on the acquisition cost. However, Kodner added, \u201cInstitutional capital has largely turned its attention away from broader Houston, which created an opportunity to acquire these properties at highly attractive pricing.\u201d\u00a0 The partners didn\u2019t have to compete openly for the assets; they acquired the portfolio in an off-market transaction.<\/p>\n<p>Other companies that have expressed their fondness for Houston&#8217;s industrial sector this year include Hillwood, which acquired the 340,000-square-foot Mason Creek Business Center, and Gupta Partners, which made its debut in the local industrial market with the <a href=\"https:\/\/www.commercialsearch.com\/news\/gupta-partners-acquires-first-industrial-complex-in-houston\/\" target=\"_blank\" rel=\"noopener\">purchase of the 276,000-square-foot Beltway 8 Industrial Park<\/a>.<\/p>\n<p>Houston had a good year in 2016, closing with strong absorption, stable occupancy and rising rents,\u201d according to a report by commercial real estate firm Transwestern. And more of the same is on tap for 2017. \u201cThrough the downturn of the energy crash, the industrial sector has displayed remarkable resiliency with demand created via the Port of Houston, consumer goods and petrochemical activity replacing much of the demand lost via the energy sector,\u201d per the report. \u201cThe recovering Houston economy and rising price per barrel of WTI has the market positioned to continue strong well through 2017.\u201d<\/p>\n<p><em>\u00a0Image courtesy of Yardi Matrix <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has partnered with Triten Real Estate to acquire a collection of light industrial facilities totaling 527,000 square feet.<\/p>\n","protected":false},"author":969,"featured_media":1004167581,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,1589,21748,21783,21742],"tags":[34118,34119],"class_list":["post-1004167580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-houston","category-industrial","category-investment","category-latest","tag-the-roxborough-group","tag-triten-real-estate-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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