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:
- Property Type: Industrial
- Transaction Amount: Undisclosed
- Address: 3710 Cedar BLVD, Baytown, TX, 77523
- Market: Baytown
- Seller's Rep: Richard Quarles(JLL), Rusty Tamlyn(JLL), Trent Agnew(JLL)
- Buyer: High Street Logistics Properties
- SF: 129527
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
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