June 3, 2020
JLL Capital Markets closed the sale of Cedar Crossing Distribution Center, a 100% leased, single-tenant, 129,527-square-foot distribution facility in Baytown.
JLL marketed the property on behalf of the seller, Mountain West Industrial Properties and American National Insurance Company. Boston-based High Street Logistics Properties acquired it for an undisclosed sum.
The JLL Industrial Capital Markets team representing the seller included Trent Agnew, Rusty Tamlyn, Charlie Strauss and Ethan Goldberg, along with Richard Quarles, who leased the building on behalf of the seller.
“The Southeast Industrial submarket lacks optionality for smaller tenants, as most development in the area is focused on big box buildings, so Cedar Crossing will always have significant interest from tenants that need to be near the Port of Houston,” Agnew said.
Completed in 2009, Cedar Crossing Distribution Center is fully leased to Merih Cotton Corporation, a family-owned and operated Houston-area cotton distributor.
For comments, questions or concerns, please contact Paul Bubny