ACQUIRING 226,000+ SQUARE FEET OF CLASS B INDUSTRIAL FLEX IN SAN ANTONIO AND HOUSTON
FORT WORTH, Texas (February 14, 2022) – We have expanded our presence in the San Antonio and Houston markets. We acquired 6103 Farinon Drive in San Antonio, an 80,230 square foot Class B Flex asset. The institutional-quality property offers state-of-the-art interior finishes and is 100% leased. The asset is in the master-planned business community of University Park in the Northwest submarket, which is also part of the growing Austin-San Antonio corridor.
We also acquired Hercules Business Center located in the Southeast submarket of Houston. The 145,619 square foot, seven-building, Class B Flex portfolio is currently occupied by 29 tenants across a variety of industries, such as engineering, automation, electronics, and medical. This acquisition brings our Houston portfolio total to 831,798 square feet. This investment presented the opportunity to acquire an irreplaceable asset in an underserved market. The lack of developable land in the immediate area coupled with the recent increase in construction costs makes replication of these assets very difficult.
“We are eager to continue capitalizing on the momentum of our record-breaking year in 2021. In the first month and a half of 2022, we have already acquired 357,000+ square feet, expanded to our first market outside of Texas (Memphis, Tennessee), and our pipeline shows no signs of slowing down,” said Jason Baxter, CEO and President.
Fort Capital is actively acquiring Class B industrial and office buildings between $10M to $75M in major metropolitan areas of Texas including Dallas/Fort Worth, Houston, San Antonio, Austin, El Paso, and strategic markets outside of Texas, including Memphis.