SAN ANTONIO, Oct. 26, 2023 - JLL Capital Markets announced today that it closed the sale of Freeport Business Centre, an industrial warehouse totaling 198,000 square feet in the thriving South submarket of San Antonio, Texas.
JLL represented the seller, Becknell Industrial, in the sale to Harbor Capital, the buyer, represented by Avison Young.
Freeport Business Centre, built in 2008, is situated on 9.93 acres and features a rear-load configuration, 40-foot clear heights, 24 dock-high doors, a 130-foot-deep truck court and 94 auto parking spaces.
The property is located at 10120 Fischer Rd., less than one mile from Interstate 35, which connects Mexico to the U.S. to Canada, and provides accessibility throughout San Antonio via Loop 410 and Loop 1604. The South submarket is home to Toyota's 1.5 million-square-foot manufacturing plant and Navistar's recently delivered one million-square-foot manufacturing hub, which are a few miles from Freeport. The Property is within proximity to Downtown San Antonio, offering convenient access to all parts of the city, including the Far West, one of the fastest growing areas of San Antonio. Additionally, its proximity to major transportation routes further enhances its ability to serve as a premier last-mile distribution facility and capitalize on the robust U.S.-Mexico nearshoring trend.
With easy access to the Texas Triangle, the area between Dallas/Fort Worth, Houston and San Antonio, Freeport Business Centre tenants can reach over 25 million people in a matter of hours. Over the next 40 years, the population of the Texas Triangle is projected to grow more than 65%, resulting in 78% of Texans living within the area.
The JLL Capital Markets Industrial Investment Sales and Advisory team was led by National Industrial Group Co-Lead & Senior Managing Director Trent Agnew, Director Josh Villarreal and Analyst Greer Shetler.
The Avison Young team, representing the buyer, was led by Stan Nowak.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
Attachments
Disclaimer
Jones Lang LaSalle Inc. published this content on 26 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2023 16:44:25 UTC.
