JLL Closes Sale-Leaseback of Northwest Houston Industrial Asset
- Oct 09, 2017
JLL’s Capital Markets Group completed the sale-leaseback of an 133,480-square-foot industrial distribution facility at 7350 Langfield Road in northwest Houston. Industrial Property Trust (IPT) acquired the property from Warrior Creek Realty, a subsidiary of the entity that owns the tenant occupying the entire building. T&L Distributing will lease back 100 percent of the property from IPT.
The industrial asset features 34 dock-high doors, 30-foot clear heights, outside storage and easy access to U.S. Highway 290 and Beltway 8. Senior Vice Presidents Dustin Volz and Kevin McConn, Vice President Zane Marcell and Associate Grant Matthews led the JLL team on the sale-leaseback.
“We are seeing sustained demand for quality distribution space in Houston, particularly in the northwest industrial submarket,” said Volz. “Industrial Property Trust owns a number of surrounding assets near 7350 Langfield and were interested in acquiring more properties in the area. The resulting transaction brought value to both the buyer and seller.”
Image courtesy of JLL