Nuveen Sells Houston Distribution Center
The roughly 353,000-square-foot Beltway North Commerce Center is fully leased to Air General and DB Schenker.
Beltway North Commerce Center
High Street Logistics Properties has acquired Beltway North Commerce Center in Houston from Nuveen Real Estate. The 352,680-square-foot, Class A distribution center last traded in 2015 from Amstar for $23.4 million, Yardi Matrix data shows. Last October, Nuveen grew its U.S. presence with a $3 billion portfolio purchase from Blackstone.
Located at 971 N. Sam Houston Parkway E. at the intersection of the Hardy toll road and beltway 8, the building is 5 miles from Interstate 69, 6 miles from Houston Airport Marriott at George Bush Intercontinental and 18 miles north of downtown Houston. Completed in 2015 on a 23.5-acre site, the LEED-certified asset includes 32-foot clear heights, 110 dock-high doors via a cross-dock configuration, 68 trailer spaces and LED lighting. The property is fully leased to Air General and DB Schenker.
Managing Director Trent Agnew, Senior Managing Director Rusty Tamlyn, Director Charlie Strauss and Analyst Katherine Miller from JLL’s Industrial Capital Markets worked on behalf of the seller. According to Agnew, the transaction marks the second collaboration with High Street Logistics in the metro over the past 12 months.
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