Stonepeak has recently acquired six logistics properties near Houston, Texas for a total of 2.3 million square feet. The sale price for the portfolio in La Porte, Texas was reported to be $244 million by Commercial Edge. Starwood Capital sold the properties which are all situated within 8 miles of the Port of Houston.
The addresses for these properties are: 359 Old Underwood Road; 359 Pike Court; 10100 Porter Road;10052 Porter Road;10051 Porter Road and10025 Porter Road.
Port Houston is currently investing $1.7 billion over the next five years to modernize and expand its existing facilities, making it an attractive location for logistics assets. Additionally, Houston’s transportation infrastructure is supported by a strong rail network including Union Pacific,BNSF,and CPKC.
Phill Solomond from Stonepeak stated that they believe in supply chain real estate anchored by essential port infrastructure due to its crucial role in local and national supply chains.They are excited about continuing their investments in this area.
Earlier this year, Stonepeak also acquired a logistics portfolio totaling1 .1million square feet located in Dallas-Fort Worth’s Alliance submarket.
