Colliers International is pleased to announce the sale of two industrial warehouses totaling 31,750 square feet located at 12400 and 12402 Taylor Road in Houston, Texas 77041. Barrett Gibson and Jason Tangen of Colliers International advised both the seller, H&B Development and Construction LP, and the buyer, TRECAP Management, in the transaction.
TRECAP Management is a real estate investment, management and advisory services company. They own and manage investment portfolios that are comprised of assets in various property sectors, such as office, retail and industrial properties.
The warehouses are 100% leased to SRS Distribution Inc. and TRECAP Management acquired the assets to hold for investment. The credit profile and initial term were consistent with TRECAP's portfolio goals.
The buildings are located in the West Outer Loop submarket which has 27.2M square feet of existing industrial space and is 94% occupied. The West Outer Loop submarket is located in Houston's Northwest industrial corridor, which is the largest of Houston's seven industrial corridors, containing 175.5M square feet of industrial space.