HFF closes sale of 5-building, Class A industrial portfolio in El Paso and Harlingen, Texas
DALLAS, TX – June 29, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of a five-building, Class A industrial portfolio totaling 758,715 square feet in El Paso, Texas, and 144,000 square feet in Harlingen, Texas.
HFF marketed the portfolio on behalf of the seller, Prologis, Inc. The assets were purchased by Sealy & Company, sponsor of Sealy Strategic Equity Partners (SSEP), for an undisclosed amount.
The four El Paso properties consist of Vista Del Sol III Building I, 950 Loma Verde Drive; Vista Del Sol Buildings 7, 1350 Pullman Drive, and 8, 1430 Henry Brennan Drive; and Vista Corporate Center Building 5, 1211 Henry Brennan Drive. The properties are grouped together in El Paso’s East industrial submarket at the convergence of the Interstate 10 and Loop 375 interchange, less than five miles from the Ysleta Port of Entry at the U.S.-Mexico border and approximately 11 miles from El Paso International Airport. Built between 1997 and 2001, the buildings are 100 hundred percent leased to six tenants and have between 22’ and 24’ clear heights and a low office finish averaging 7.5 percent.
The Harlingen facility is located at 1805 North Loop 499 in Harlingen, a south Texas community in the heart of the Rio Grande Valley, 256 miles south of San Antonio. With immediate access via Loop 499 to Interstates 77 and 80, the facility is 13.5 miles from the Free Trade Bridge passing into Mexico and one mile from Valley International Airport. The one-building distribution facility has a 24’ clear height.
The HFF investment sales team representing the seller was led by senior managing director Randy Baird, managing director Jud Clements, director Robby Rieke and real estate analyst Stephen Bailey.
About Prologis, Inc.
Prologis, Inc. is the global leader in industrial real estate. As of March 31, 2015, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 594 million square feet (55 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,700 customers, including third-party logistics providers, transportation companies, retailers and manufacturers. Learn more at www.prologis.com.
About Sealy & Company
Sealy & Company is a fully-integrated commercial real estate investment and operating company. Sealy is a recognized leader in acquiring, developing, and redeveloping regional distribution warehouse, industrial/flex, and other industrial properties located primarily in the southeastern, south-central, and southwestern United States. Sealy has in-house capabilities that include investment, development, asset management, property management, marketing, leasing, and brokerage services. Sealy & Company has an exceptional team of over 100 employees, located in eight offices, with corporate offices in Dallas, Texas, and Shreveport, Louisiana. For more information, visit www.sealynet.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.
HFF Senior Managing Director
HFF Managing Director
HFF Associate Director, Marketing