JLL Capital Markets arranged the sale of two industrial logistics centers, Northwest Logistics Center in Houston and CentrePort 2 in Dallas/Fort Worth.
JLL represented the seller and procured the buyer, Sterling Investors.
CentrePort 2 is a 430,852-square-foot, cross-dock building, built in 2017 and featuring 97 dock doors and 32-foot clear heights. The property is located in the Upper Great Southwest submarket, directly south of DFW International Airport and with direct access to Highway 360 and Highway 183.
Northwest Logistics Center is a 411,460-square-foot, cross-dock building, built in 2018 and featuring 138 dock doors and 32-foot clear heights. The property is located in the Northwest submarket of Houston, within three miles of US-290.
In 2023, DFW and Houston achieved a combined 50 million square feet of positive net absorption, which accounted for over 80 percent of total net absorption in Texas and over 23 percent of the U.S. total. Both markets continued to see accelerated rent growth in 2023, with rents outpacing the prior year by 15.6 percent in Houston and 16.6 percent in DFW.
The JLL Capital Markets team was led by Industrial Group Co-Head and Senior Managing Director Trent Agnew, Senior Directors Charlie Strauss and Parker McCormack, Directors Tom Weber, Lance Young and Pauli Kerr, Associate Matthew Barge and Analyst Brooke Petzold.
