DAYTON STREET PARTNERS ACQUIRES
A 500,000 SQUARE-FOOT LOGISTICS PROPERTY IN HOUSTON
Chicago-based real estate and development firm Dayton Street Partners has recently entered the Houston market, with an eye on the growing logistics industry in this area.
Earlier this year, they purchased 5800 Mesa Dr., a 500,000-square-foot logistics property in Houston. This is the first Houston property purchase for the firm, but it not necessarily the last. This purchase is part of a larger corporate strategy and Dayton Street Partners has said it plans to continue looking for investment opportunities in Houston, as well as in other locations throughout Texas.
Dayton Street Partners are a specialized commercial real estate investment and development firm. They are focused on acquiring and developing logistics and industrial properties with high barrier to entry. They are known for having a thorough knowledge of the real estate market, as well as a network of strongly established relationships.
This type of property is in high demand in the area, as well as in other major US markets. Dayton Street Partners is poised to take advantage of the growing logistics industry within Houston. The property is a large scale industrial site and has huge potential in the thriving sphere of trucking, transport and logistics.
It’s clear that the firm has a strong strategy for the future and is making smart moves in order to take advantage of the logistics wave in Houston.
ABOUT THE PROPERTY: 5800 MESA DRIVE, HOUSTON, TEXAS
This expansive property features a 90-acre site, containing a 333-door truck terminal and a 33-bay maintenance facility. The eastern portion of the site includes 213 professionally secured trailer parks on 9.26 acres and the southern portion of the property includes 19.94 acres with 574 secured trailer parks. Approximately 123,000 square feet of the property is available for lease, featuring 156 secured trailer parks and 113 doors.
The property is not zoned and is located in an opportunity zone. It is in a highly advantageous location, just 10 miles from Houston’s CBD and close to I-610.
The seller was a private investor and the price was not disclosed, although the property was valued at $858,014 as of January 2020 according to Harris County Appraisal District records.
Dayton Street Partners has selected NAI Partners as their exclusive leasing agent for the property. They are one of the top 5 largest independently owned and privately held commercial real estate services firms in the state of Texas. They employ more than 150 real estate professionals, and complete over 700 commercial lease and sale arrangements every year.
It’s clear that Dayton Street Partners has big plans for this large-scale 90-acre truck terminal, and that they are bringing in the best in the business in order to make the most of it. It will be interesting to see what they do with this property over the next few years and how it fits into their growing portfolio.
FUTURE PLANS FOR THE PROPERTY
Dayton Street Partners has announced major plans for this property, and will be investing in bringing it up to the highest possible standard. At the moment, they are planning a multimillion-dollar extensive renovation of the truck terminal which will likely take place over the next few years.
The renovation will include developing the 25 acres of lit and secured trailer parking. This will be used for improved trailer parking, as the company said it has seen a growing demand for trailer parking in Houston as well as in other major markets throughout the USA.
The future renovation plans for this property are poised to take advantage of the continuing logistics boom in Houston and the surrounding area. This type of property is in high demand at the moment, due to Houston becoming one of the hottest and fastest-growing logistics locations in the USA.
HOUSTON IS BECOMING A MAJOR LOGISTICS HUB
Houston is currently evolving into a powerhouse location in the logistics industry. Dayton Street Partners are taking advantage of a great opportunity at the moment to capitalize on the increasing demand in this particular market.
5800 Mesa Dr. is located within the heart of a growing logistics and transportation corridor in Houston. There are several LTL carriers, trucking companies, distribution firms and manufacturers that have based themselves here.
Even during the economic downturn and limitations of the Covid-19 pandemic, industrials properties in Houston have still remained in high demand. In the third quarter of 2020, over one million square feet of industrial space was absorbed in Houston.
This brought the total absorption over the year-to-date to 7.5 million square feet. A total of 18.5 million square feet of industrial space was delivered in 2020, according to a report by Los Angeles-based Coldwell Banker Richard Ellis.
It does not appear that this sector will be slowing down anytime soon. Expect to see more companies seeking out new properties - especially since historically low interest rates are offering new opportunities for owner-occupier building purchases.
FUSEGIS: TAP INTO HOT PROPERTY TRENDS
Being about to make smart property moves in growing industries requires lots of up-to-date, relevant information. It’s crucial to have your ear to the ground so that you can spot trends and opportunities when they arise and make smart investments.
FuseGIS is a useful resource for finding and researching properties that are currently hot right now. These types of logistics properties, such as 5800 Mesa Drive, are a great example. For real estate investing firms that are interested in making the most of the growing logistics industry in Houston, FuseGIS will be an essential tool.
FuseGIS offers a wealth of information about a property all in one place, which would take hours upon hours of research to gather otherwise. At a glance, property brokers can see zoning information, floodplain, ownership, sales and lease information and more.
Having all of this information at your fingertips, makes it easier for brokers to buy and sell properties. Plus, it also helps appraisers to value those properties faster and more accurately.
To learn more about how FuseGIS works, contact us today!
