Jones Lang LaSalle Inc.
10/14/2024 | Press release | Distributed by Public on 10/14/2024 10:12
IKEA-leased distribution center near Houston, TX sold
HOUSTON, Oct. 14, 2024 - JLL Capital Markets announced today the sale of Cedar Port IKEA, a premier 996,482-square-foot industrial distribution center near Houston, Texas.
JLL represented the seller in the transaction, with MDH Partners acquiring the property.
The property consists of two Class A buildings built in 2017, currently fully leased to IKEA. It features 32-foot clear heights, large 190-foot truck courts, ESFR sprinkler systems, abundant trailer parking and future rail capability.
Strategically located at 4762 and 4830 Borusan Rd in Baytown, Texas, the property sits within the sought-after Southeast Houston industrial submarket. Its prime position, just two miles from State Highway 99 and 15 minutes from Barbour's Cut Container Terminal, offers exceptional regional connectivity and streamlined access to the Port of Houston.
Additionally, the property is part of Cedar Port Industrial Park, the largest master-planned, rail-and-barge-served industrial park in the United States and the fifth largest globally. This 15,000-acre campus features heavy utilities and exceptional infrastructure, hosting industry leaders like Walmart, GE, DHL and The Home Depot.
The JLL Investment Sales and Advisory team was led by Industrial Group Co-Lead and Senior Managing Director Trent Agnew, Senior Director Charlie Strauss and Director Lance Young.
"The Port of Houston continues to be a powerful catalyst for the region's industrial real estate market," said Agnew. "We're seeing continued demand from both new entrants and expanding companies across diverse sectors, all aiming to leverage the area's operational efficiency, abundant capacity, skilled workforce and cost advantages."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
MDH Partners is an Atlanta-based real estate investment company managing its discretionary funds targeting industrial real estate across the United States on behalf of its institutional investors. Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $6 billion (90 million square feet) of acquisitions, developments, and asset management as an advisor and investor. For more information, visit www.mdhpartners.com.