Apricus Realty Capital, based in Dallas, has expanded its portfolio with the acquisition of a new industrial outdoor storage (IOS) property. The 9.7-acre site is fully leased and located next to George Bush Intercontinental Airport in Houston.
The acquisition was made through a joint venture with ABR Capital and was facilitated by Jason Tangen and Paul Dominque from Colliers’ Houston office.
This newly acquired property features five buildings totaling 89,000 square feet on a fully paved/concrete site. It includes four warehouse/service buildings as well as one office building. The larger warehouses have clear heights of 26 feet, allowing for the use of heavy equipment such as cranes with up to 50-tons capacity and heavy power supply at 480/277 volts.
According to Garrett Marler from Apricus Realty Capital, their focus remains on acquiring properties near essential infrastructure that can accommodate various outdoor storage needs such as building materials or heavy equipment parking. Their target price range for these types of properties is between $5 million to $15 million.
