Fort Capital Grows San Antonio Footprint
With this acquisition, the company brings its industrial portfolio to more than 6 million square feet.
Starcrest Portfolio. Image courtesy of Fort Capital
Fort Capital has added to its San Antonio footprint with the acquisition of the Starcrest Industrial Portfolio, a 465,648-square-foot campus, bringing its U.S. industrial holdings to more than 6 million square feet. The seller was Forester Properties, according to CommercialEdge.
The same data provider shows that more than 3.3 million square feet of industrial space have changed hands in San Antonio since the beginning of the year. In one of the more significant transactions, KKR purchased a four-building, 576,047-square-foot Class A property from Hines.
A Class B property in the Airport submarket
Also known as Blossom Business Center, the campus came online in 1983. The eight-building asset comprises Class B light industrial facilities with 14- and 18-foot clear heights, grade-level and dock-high loading doors. Cavender & Hill Properties Vice President Thomas Bragg handles leasing at the property that was 89 percent leased at the time of sale.
Located at 12005-12095 Starcrest Drive, the campus is roughly 5 miles from San Antonio International Airport and 14 miles north of downtown San Antonio. Its proximity to interstates 10, 35 and 410 provides convenient access to Austin, Houston Ship Channel or Port of Corpus Christi, Texas.
The San Antonio industrial market shows strong fundamentals and, with Tesla and Apple entering the Austin-San Antonio corridor, the metro has the potential of becoming a strong manufacturing hub, Fort Capital CEO & President Jason Baxter said in prepared remarks.
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