For Immediate Release
August 18, 2020
Triten Real Estate Partners (TREP) continues to expand its nationwide Industrial Service Facility (ISF) portfolio with an off-market acquisition in North-West Houston. One of few real estate investment companies in the Nation focused on the acquisition, development and re-development of Industrial Service Facilities (ISFs), TREP has purchased an Less-Than-Truckload (LTL) cross-dock facility with trailer parking and storage located at 6816 Fairbanks North Houston Road, Houston, Texas. The acquisition is part of a long-term sale-leaseback with XPO Logistics.
6816 Fairbanks is a 19,000-square-foot truck terminal with 59-doors and 7.8 acres of stabilized trailer storage yard and parking. The property is located directly on US Highway 290 (210,000 VPD) and two miles inside of Beltway 8 (146,000 VPD).
XPO Logistics (NYSE: XPO) has occupied the property since it acquired Con-Way in 2015.
“We continue to build our ISF portfolio around secular e-Commerce growth trends. 6816 Fairbanks is a mission-critical facility for XPO Logistics as they continue to serve their growing LTL-market share in Houston,” says Charles Lintakoon of Triten Real Estate Partners. “Triten remains focused on aggregating and developing a diversified portfolio of Industrial Service Facilities that is critical to the backbone of the US economy.”
TREP is an active buyer of Industrial Service Facilities (ISF) across the country. ISFs are location critical facilities used to store, maintain and dispatch equipment and/or bulk material. They are primarily used by the transportation, logistics, construction and manufacturing industries. TREP continues to actively seek out these types of acquisitions in Texas and across the nation.
Scott Arnoldy and Charles Lintakoon of Triten Real Estate Partners managed the transaction for both landlord and buyer.