MoxieBridge Acquires Fully Leased Industrial Portfolio In Northwest Houston With Financing From WaFd Bank

The transaction involves the sale of the Northwest Houston Manufacturing Portfolio, comprising a fully leased industrial manufacturing asset located at 7505, 7509 & 7519 Prairie Oak Drive in Houston. The portfolio encompasses a total square footage of 127,626 and includes four crane-served manufacturing buildings situated near Beltway 8 and Highway 249. This asset is presently 100% leased, featuring a weighted average lease term of 3.8 years, and is situated in a submarket characterized by approximately 1.3% industrial vacancy, contributing to the surrounding manufacturing economy.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not Disclosed
• Address: 7505, 7509 & 7519 Prairie Oak Drive, Houston
• Asset Size: 127,626 square feet
• Buyer: MoxieBridge
• Brokers: Trent Agnew, Charlie Strauss & Lance Young - JLL
• Mortgage Brokers: Campbell Roche, Jarrod McCabe & Jack Britton - JLL
• Lender: WaFd Bank

JLL Capital Markets facilitated both the sale and financing of the portfolio, representing the interests of MoxieBridge in this transaction. The project was arranged with financing through WaFd Bank, showcasing the collaboration of key individuals from JLL in executing this transaction, including brokers and mortgage brokers involved in the deal.