FORT CAPITAL EXPANDS PRESENCE IN HOUSTON MARKET WITH ~300K SF ACQUISITION
We have further expanded our footprint in the Houston market with the acquisition of Airport Commerce Business Park. The 17-building Class B industrial portfolio, located within the North Outer Loop of Houston at 15100 Lee Road, offers 298,425 square feet of space to more than 150 tenants.
The asset also provides direct access to Sam Houston Parkway and is less than 2 miles from Interstate Highway 69. With access to major population centers throughout the Houston metro, this location is optimal for last-mile distribution and service providers.
With this acquisition, we have also expanded our Houston-based team as we plan to continue acquiring Class B industrial assets in the area. With a commitment to operating with excellence, we identified the timing was right to establish a team of local experts that could serve not only the Houston market, but San Antonio and Austin as well.
“Houston’s growth has been lagging behind the other major commercial markets in Texas, yet it is still the biggest, which means there are fewer eyeballs focusing on Houston right now. This leads to less competition, more opportunities, and potentially lower prices,” said Jason Baxter, CEO and President. “Additionally, the market is shifting in Houston. Historically, Houston has been predominantly oil and gas, but now we are seeing high growth rates in both the tech and medical industries. We look forward to further expansion in this market as we anticipate significant upsides in the near future.”