Gupta Partners Acquires First Industrial Complex in Houston
- Jan 18, 2017
Houston—Michigan-based Gupta Partners announced the acquisition of the 276,000-square-foot, nine-building Beltway 8 Industrial Park located on the west side of West Sam Houston Parkway North in Houston.
Moody Rambin represented both parties in the transaction—Bradley Kovach represented Gupta Partners, while Jim Autenreith represented the seller, a California-based investment group. Furthermore, Moody Rambin will handle leasing and management responsibilities at the complex. The property was 88 percent occupied at the time of the deal; the financial details were not disclosed.
The industrial asset situated on 9.32 acres at 5829 W Sam Houston Parkway North offers flex space for small businesses from 2,400 to 12,000 square feet. Major tenants include Jace Auto Wheel and Tire Specialists and Lumber Liquidators.
“Beltway 8 Industrial Park’s location, occupancy and tenant mix were significant factors in this acquisition,” said Jonathan Gupta in a prepared statement. “This property complements and diversifies our long-term investments in Houston.”
“Increasing density in all types of real estate is pushing demand for small-space users, particularly in the service center category,” added Bradley Kovach, senior vice president, Moody Rambin. “This location offers added value and quality in a business address with Beltway 8 frontage and visibility.”
Aside from the Beltway 8 Industrial Park, Gupta Partners owns an office portfolio in the Houston area that is 88 percent leased. The portfolio includes 10700 Richmond and 3200 Wilcrest in the Westchase submarket; 2180 and 2190 North Loop West in the North Loop area; 12946 Dairy Ashford in Sugar Land and 550 Westcott in Midtown.
Image courtesy of Moody Rambin