May 31, 2022
HOUSTON – Transwestern Investment Group (TIG®), on behalf of a separately managed account, announces the sale of Southwest Commerce Center, a 477,355-square-foot cross-dock industrial facility at 611 S. Cravens Road in Missouri City, Texas. The facility was 100% leased at the time of sale.
“Houston’s attractive market fundamentals, coupled with the rising costs and limited availability of land for industrial development, positioned Southwest Commerce Center as an excellent investment opportunity for new ownership,” said Clarke Crenshaw, Managing Director, Head of Asset Management at TIG.
Built in 2019 by Transwestern Development Company, Southwest Commerce Center is situated on a 29-acre parcel and features 32-foot clear heights, an ESFR sprinkler system and ample auto and trailer parking. Leased by Transwestern Real Estate Services, its three existing tenants include Awesung, ADBA Group and Asia Logistics.
According to Transwestern research, industrial property sales in Houston during first quarter 2022 averaged $99 per square foot, up from $95 per square foot at year-end 2021.
JLL’s Trent Agnew, Charlie Strauss and Lance Young represented TIG in the disposition.
About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with $5.2 billion of assets under management. The firm serves a broad range of institutional and high-net-worth investors with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for investors across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The investors included in this press release were not selected based on performance, but because they are some of the largest well-known investors with similar strategic alliances. It is not known whether these investors approve or disapprove of TIG or the services or products it provides.
Media Contact:
Monica Sparreo
312.881.7059
monica.sparreo@transwestern.com
twmediarelations@transwestern.com
