August 3, 2018
GBP Industrial acquired the Beltway 8 Corporate Center, a 63,550-square-foot flex/R&D building in Houston’s northwest industrial submarket. The California buyer bought the 100%-occupied building at 5050 Westway Park Blvd. from Vigavi, which is headquartered in Houston. Earlier in 2018, GBP acquired a 93,000-square-foot building at 7207 Gessner Rd.
JLL’s Dustin Volz, Kevin McConn, Rick Goings, Zane Marcell, Richard Quarles and Mark Nicholas led the transaction. “This is a high-quality asset in a thriving submarket,” Volz said. “With a history of full occupancy and first-rate tenants, this building offered investors a strong income stream with cash-flow stability.”
Beltway 8 Corporate Center delivered in 2009, and has office, warehouse and lab space. Building features include high-end interior finishes, four dock-high doors, and a fenced truck court. The three tenants are Acosta Sales & Marketing, Carbo and M-Trigen Inc.
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