Avison Young completes sale of a 234,215 sf industrial building in Northwest Houston
April 18, 2023
Houston, TX – Avison Young announced today it has completed the sale of a 234,215-square-foot (sf) industrial building with 2.5 acres of additional land located at 4414 Hollister Road in Houston.
Principal Drew Coupe and Associate Dawson Smith who are both out of Avison Young’s Houston office represented the seller, Frontera Capital Partners, an Austin-based real estate private equity firm. The undisclosed buyer is an owner-user and was represented by Nick Peterson of Transwestern.
Situated on just under 15 acres, the property features 25’ clear height, a 150’ truck court, 155 parking spaces, and 25 dock high doors. It is three minutes south of Highway 290 and within Beltway 8.
“This property is located within the highly coveted Northwest industrial area with less than 6% direct vacancy,” said Coupe. “Additionally, it was the only free-standing dock-high building in excess of 200,000 sf available for sale in the inner Northwest submarket.”
Smith added, “We strategically advised our client regarding capital improvements to the roof, truck court, interior, and exterior of the building prior to taking this asset to the market for sale. We also structured two different short-term lease deals with tenants at market leading rates to maintain a healthy cash flow on the asset as we repositioned it for the right buyer.”
Michael Stone, Founder & CEO of Frontera Capital Partners (FCP), noted: “4414 Hollister offered an excellent value-add opportunity for FCP due to the property’s unique functionality and the opportunistic acquisition time during the early days of the pandemic. FCP’s investment thesis predicted that core industrial assets would appreciate significantly as existing e-commerce and logistics trends were compounded by the supply chain shocks of the pandemic. From acquisition to our eventual disposition, Drew and Dawson with Avison Young were hands-on as we re-positioned the asset providing market data, creative solutions, and a proactive marketing approach. FCP views Drew and Dawson as partners due to their stewardship of the project, and we look forward to future opportunities with them.”
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.