JLL Capital Markets closed the sale of Cedar Crossing Distribution Center, a 100-percent-leased, single-tenant, 129,527-square-foot distribution facility in the Houston-area community of Baytown, Texas.
JLL marketed the property on behalf of the seller, Mountain West Industrial Properties and American National Insurance Company. High Street Logistics Properties purchased the asset.
Completed in 2009, Cedar Crossing Distribution Center is fully leased to Merih Cotton Corporation, a family-owned and -operated cotton distributor that has been in business for upwards of 35 years. The front-load building features a 24-foot clear height, 33 dock-high doors, one drive-up ramp and low office finish.
Situated on 7.37 acres at 3710 Cedar Boulevard, the property provides exceptional access to the Port of Houston’s two dedicated container terminals, Barbour’s Cut (5.6 miles) and Bayport Container Terminal (9.4 miles). Cedar Crossing Distribution Center is also within the 15,000-acre Cedar Port Industrial Park, which is the largest master-planned, rail-served industrial park in North America.
The JLL Industrial Capital Markets team that represented the seller was led by managing director Trent Agnew, senior managing director Rusty Tamlyn, director Charlie Strauss and analyst Ethan Goldberg along with senior vice president Richard Quarles, who leased the building on behalf of the seller.
“The Southeast Industrial submarket lacks optionality for smaller tenants, as most development in the area is focused on big box buildings, so Cedar Crossing will always have significant interest from tenants that need to be near the Port of Houston,” Agnew said. “We were extremely pleased with both the buyer and seller’s ability to execute this transaction during the COVID-19 pandemic.”
