Triten Buys Houston Industrial Portfolio

Triten Real Estate Partners has acquired a three-building industrial portfolio totaling 534,541 square feet in Houston’s submarkets of West Houston and Port of Houston.

Nationwide Mutual Insurance Co. provided the acquisition financing, with the undisclosed loan maturing in 2028, according to Harris County public records.

Lee & Associates worked on behalf of the seller of the West Houston property, while JLL brokered the deal for the other two industrial buildings.

Kingsland 4 is the largest asset in the portfolio, located at 31067 Kingsland Blvd. in Brookshire, Texas. It is a 200,680-square-foot rear-load distribution facility that is fully occupied by third-party logistics company Pods and Armstrong SCS. A private seller sold the Class A property, which covers approximately 35 acres, according to CommercialEdge data.

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The other two properties are in La Porte, Texas, and were sold by Ares Management, the same source shows. These include:

• Port 146, a Class A industrial warehouse at 2020 N. Highway 146, totaling 140,272 square feet. The 8-acre asset was constructed in 2020 and its sole tenant is Barsan Global Logistics.
• LaPorte Distribution Center, which totals 193,586 square feet at 1401 S. 16th St. Hawthorne Global Logistics occupies the building.

The La Porte properties are within 4 miles of each other, close to Fred Hartman Bridge, 29 miles from downtown Houston and within 31 miles from George Bush Intercontinental Airport. Kingsland 4 is 19 miles from Rosenberg, Texas, and 36 miles from downtown Houston.

Lee & Associates’ Principals Taylor Schmidt and Robert McGee negotiated on behalf of the private seller. JLL’s team of Senior Managing Director Trent Agnew, Senior Director Charlie Strauss and Director Lance Young worked on behalf of Ares Management.

Houston still a hotspot for investment activity

Houston recorded nearly $2.3 billion in industrial sales volume in 2023, a recent CommercialEdge report shows. The metro was outperformed only by Dallas-Fort Worth across Southern markets, while nationally its deals volume secured the seventh place, with assets changing hands at an average sale price of $122 per square foot, below the national figure of $129.

Recent transactions of large assets included Sealy & Co.’s purchase of a 500,840-square-foot industrial facility. Pagewood sold the property—Great 290 Distribution Center, a Class A warehouse that came online in 2023 and is fully occupied by a single tenant.

One of the biggest deals in Houston last year was Dalfen Industrial’s acquisition of Fairbanks Logistics Park. The company picked up the 1 million-square-foot industrial campus from seller Investment & Development Ventures, with Affinius Capital providing a $90.6 million acquisition loan.