Apricus Realty Capital Acquires Another Industrial Outdoor Storage Property in Houston
HOUSTON (July 23, 2024) – Dallas-based Apricus Realty Capital added another highly desirable industrial outdoor storage (IOS) property to its portfolio with the acquisition of the fully leased 15800 Export Plaza in Houston. The 9.7-acre site is ideally located adjacent to George Bush Intercontinental Airport.
The acquisition, in a programmatic joint venture with ABR Capital, was directed by Apricus Managing Principal Matt Haley, Vice-President Garrett Marler and Associate Cort Martin. Apricus was represented by Jason Tangen and Paul Dominque of the Colliers Houston office.
“The site and buildings are reflective of a mission-critical property,” Haley said. “Location is a key factor for IOS sites. Demand is driven by proximity to both multiple transportation options as well as dense populations, making 15800 Export Plaza a great addition to our portfolio because of its outstanding physical properties and high-quality tenancy.”
The property is a fully paved/concrete site with 89,000 square feet across five buildings (four warehouse/service buildings and one office.) The larger warehouse buildings are 26’ clear allowing for 50- and 10-ton cranes with 480/277 volts of heavy power.
“The tenancy at Export Plaza seamlessly aligns with our IOS portfolio,” Marler added. “We remain committed to seeking infill properties adjacent to essential infrastructure that are well suited for building material storage, heavy equipment storage, truck trailer parking, container storage and a variety of other outdoor space requirements.”
“We are actively pursuing IOS properties in major markets throughout Texas, as well as in Phoenix, Denver, Kansas City, and strategic port or distribution hubs. Our sweet spot ranges from $5 million to $15 million but we are entertaining larger purchases for existing portfolios,” Martin added. “Infill locations are always highly desirable.”
This IOS acquisition follows the most recent purchase of 9987 Wallisville and 12400 & 12402 Taylor Road in Houston.
