July 19, 2019
Aero Greensmor LP ended a 15-year old on a 341,252-square-foot industrial portfolio at 2700 Greens Rd. on the Houston metro’s far north side. An entity operating by the name of Atlas Greens Road Industrial LLC, traced to ATCAP Partners in Dallas, TX, snagged the 14-building asset from the Humble, TX seller. NAI Partners’ Joshua Lass-Sughrue, Chris Kugle, and John Ferruzzo represented the seller in the transaction.
NAI Partners said the portfolio received approximately eight bids during the marketing process. This was a rare opportunity to buy an entire business park, significantly below replacement cost,” said one of the brokers about the transaction.
The 1980s portfolio was 85% occupied at the time of sale. The tenant roster consists of a mix of logistics, distribution and light manufacturing businesses.
It’s time to register for this year’s Connect Texas Multifamily Conference on Aug. 15! For information and to register, click here.
For comments, questions or concerns, please contact Amy Sorter