Dalfen Industrial has purchased Fairbanks Logistics Park, a recently completed, Class A industrial park totaling 1 million square feet, in Houston. Affinius Capital provided a $90.6 million, variable rate acquisition loan.
The seller was Investment & Development Ventures, CommercialEdge data shows. The same source reveals that Stream Realty Partners has been tapped as leasing agent.
A multi-tenant industrial location in northwest Houston
Fairbanks Logistics Park’s completed buildings include:
- Building 1, located at 8702 Fairbanks N. Houston Road, totaling 258,204 square feet and including two grade-level doors, 61 dock-high doors and 287 parking spots.
- The 244,128-square-foot Building 2, located at 8710 Fairbanks N. Houston Road, including four grade-level doors, 50 dock-high doors and 248 parking spots.
- The 287,470-square-foot Building 3, including two grade-level doors, 68 dock-high doors and 299 parking spots, located at 8718 Fairbanks N. Houston Road.
- Located at 8726 Fairbanks N. Road, the 221,719-square-foot Building 4 includes 47 dock-high doors, two grade-level doors and 166 parking spots.
All buildings also include 32-foot clear heights, office components, LED lighting systems, dock equipment and an additional 5-acre paved yard with 148 trailer parking spots. The logistics park is situated on an approximately 100-acre lot, within Houston’s Cypress West submarket, 17 miles from George Bush Intercontinental Airport, 19 miles from downtown Houston, 26 miles from Port of Houston and within 62 miles of Port of Texas City.
READ ALSO: Fed Rate Hike Ahead. What’s in It for CRE?
As the Port of Houston is continuing its expansion, there is an increased demand for Class A industrial products and Fairbanks Logistics Park represents a sought-after location for tenants looking for easy access to the Houston region, noted Affinius Capital Managing Director Tom Burns in prepared remarks. A Stream Realty Partners team including Senior Vice President Jeremy Lumbreras, Vice President Garret Geaccone and Managing Director Tyler Maner are marketing the logistics park for lease, CommercialEdge data shows.
Earlier in June, Wells Fargo Bank originated a $90 million acquisition loan for two MDH Partners purchases. Totaling 1.6 million square feet, the two properties are the 603,389-square-foot South Belt Central Building 4 in Houston and the 973,218-square-foot Great Valley Commerce Center in Atlanta.