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3710 Cedar BLVD, Baytown, T...

High Street Logistics Properties Acquires Cedar Crossing Distribution Center In Baytown
SOLDIndustrial

High Street Logistics Properties Acquires Cedar Crossing Distribution Center In Baytown

3710 Cedar BLVD, Baytown, TX, 77523

Building Size

129,527 SF

Asset Type

Industrial

Closing

Nov 22, 2023

AI

The Cedar Crossing Distribution Center, a 129,527-square-foot industrial property located in Baytown, Texas, has been sold. The property, fully leased to Merih Cotton Corp., features 24-foot clear heights, 33 dock-high doors, and is situated on 7.3 acres within Cedar Port Industrial Park. The transaction was facilitated by JLL and involved the seller's representatives, Richard Quarles, Rusty Tamlyn, and Trent Agnew. The buyer, High Street Logistics Properties, acquired the asset from American National Insurance Co.

Summary of transation details:

The sale of Cedar Crossing Distribution Center was completed with the involvement of notable individuals from JLL, including Charlie Strauss and Ethan Goldberg. The property, constructed in 2009, was part of a transaction brokered by a partnership between Mountain West Industrial Properties and American National Insurance Co. High Street Logistics Properties emerged as the buyers of the fully leased industrial asset in Baytown, Texas.

Players

Trent Agnew

JLL

Broker

$486M

vol

64 deals

Broker
HP
High Street Logistics PropertiesBuyer

Baytown Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93