January 25, 2022
Triten Real Estate Partners has expanded their nationwide Industrial Service Facility (ISF) portfolio with a recent off-market acquisition in Northeast Houston. The acquisition consists of a 100-acre, multi-tenant outdoor storage yard portfolio located near the intersection of Wallisville Road and Oates Road, south of US-90 in Northeast Houston. The properties have convenient and immediate access to Interstate 610, Interstate 10, and US-69 and are located minutes from Union Pacific’s Settergast and Englewood rail yards. The portfolio consists of a diverse mix of local, regional, and national tenants including materials storage, truck parking, and drayage users.
Andrew Jewett of CBRE managed the transaction for the buyer. Blake Gibson of Collier’s managed the transaction for the landlord.
“Triten started building its ISF portfolio back in 2018 with a focus on finding properties that benefit from major transportation corridors and entrenched demand drivers”, says Zach Dobin, principal at Triten Real Estate Partners. “With access to Houston’s extensive highway network and proximity to UP’s intermodal system, the NE Houston Yard portfolio is a perfect fit.”
The newly acquired Northeast Houston portfolio currently has 3 sites available for lease ranging from 5-10 acres.
With over 4 million square feet of industrial warehouse space currently under construction and the exponential growth in demand for trucking, logistics and intermodal users, Houston continues to be one of the fastest-growing industrial markets in the U.S. Triten continues to work diligently on growing their portfolio as this demand increases. Triten currently owns over 170-acres of ISF product in Houston, and has been actively acquiring new opportunities in core markets nationally. They now own close to 250-acres in markets outside of Houston including Atlanta, Kansas City, and The Inland Empire.
Last year, Triten secured a $150 million investment from an institutional investor with plans to buy $400 million of ISF properties over the next three years. In the last year, Triten has acquired over 300 acres of ISF properties consisting of freight facilities, outdoor storage, LTL terminals, and truck parking locations.
About Triten Real Estate Partners:
Triten Real Estate Partners (TREP) is a full-service and vertically integrated real estate development and operating company. With offices in Houston and Dallas, TREP focuses on identifying opportunistic relative-value strategies and unique placemaking investments where value can be created through a tailored experience focused on the changing trends in our industry. TREP is active in development, value-add repositioning, as well as undervalued assets where a mark-to-market arbitrage can be achieved. The company prides itself as being entrepreneurial and flexible to find investments through a disciplined research and market driven approach.