Stream Realty Partners represented the seller, a private partnership, in the two-building, 235,400-square-foot industrial portfolio sale of Lanark Distribution Center (610 Lanark Drive) in San Antonio, which closed in late December 2020.
Stream’s Dallas-Fort Worth investment sales team of Jamie Jennings and Andrew Rabinovich partnered with Stream’s San Antonio Industrial team of Kevin Cosgrove and Walter Simpson to represent the seller in the transaction.
“Lanark Distribution Center provided a unique opportunity to acquire an infill and highly functional, light industrial portfolio within San Antonio’s largest industrial submarket,” said Jennings, managing director of investment sales at Stream. “The offering provided strong, in-place cash flow, along with the opportunity to slightly increase occupancy in a supply-constrained submarket.”
Lanark Distribution Center spans over 10 acres in San Antonio’s Northeast industrial submarket, an outstanding regional distribution location along Interstate 35, the region’s primary distribution and transportation artery. The portfolio was approximately 97 percent leased at the time of sale, with strong, in-place income backed by a diverse roster of regional and national tenants ranging from 3,000 to 86,620 square feet. The property’s proximity to major thoroughfares and surrounding homes and businesses have made it one of the most sought-after industrial neighborhoods in the region.
“With Central Texas’ growing population and rapidly expanding consumer base, there’s little doubt that Lanark Distribution Center’s infill location will maintain its leading position as demand for well-located, small light-industrial properties continue to outpace that of larger warehouses,” Jennings said.