Westcore, a leading West Coast industrial real estate acquisition, development and asset management firm, recently acquired Cedar Port Park, an industrial property located in Baytown, a suburb of Houston, Texas. The property consists of four industrial buildings encompassing 210,000 square feet, located at the corner of FM 1405 and Oscar Nelson Junior Drive. Westcore purchased the property from Texas-based seller NIT Industrial for an undisclosed price.
The newly developed property is part of Cedar Port Industrial Park, the largest master-planned, rail-and-barge served industrial park in the U.S. at 20,000 acres. The property features 40-foot access drives, heavy haul roads, 200-foot truck courts, an ESFR sprinkler system, and proximity to public barge and rail terminals within the park.
“We are thrilled with the acquisition of Cedar Port Park and its location within one of the nation’s largest business parks,” said Westcore Managing Director, Peter Mette. “We acquired this modern, state-of-the-art property on an attractive basis and see great momentum in this submarket.”
Cedar Port Park is one of two new Texas properties that Westcore agreed to purchase from NIT Industrial. The other project, Eisenhauer Business Park in San Antonio, is currently under construction and will consist of four buildings and 377,314 square feet when complete in early 2022.
Jason Tangen and Barrett Gibson of Colliers International represented NIT Industrial, and Westcore represented itself in this transaction.
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