Realterm Logistics closed on the acquisition of two highly functional HFT properties that are currently used as food and beverage facilities at 11611 Bellfort Village Drive, Houston, Texas and 950 Tristar Avenue in Webster, Texas. The two properties are leased long-term to Frito-Lay.
"We are excited to add these properties, which offer excellent functionality for a wide variety of final-mile and food & beverage operations serving the vast Houston MSA, to the RLIF portfolio via an off-market acquisition," said Derek Fish, VP of Acquisitions. "Both sites offer the numerous dock-high and drive-in loading positions, significant excess parking and on-site vehicle maintenance areas that are sought by final-mile users rapidly moving goods through the property."
11611 Bellfort Village Dr, Houston, TX
Bldg SF: 71,503sf
Loading Positions: 36 (35 dock-high, 1 grade-level)
950 Tristar Dr, Webster, TX
Bldg SF: 44,008sf
Loading Positions: 42 (40 dock-high, 2 grade-level)
Realterm thanks Chris Spear of ComReal for facilitating the transaction.