Apricus Realty Capital Acquires Industrial Outdoor Storage Property Outside of Dallas
CEDAR HILL, Texas (Dec. 9, 2024) – Dallas-based Apricus Realty Capital added another highly desirable industrial outdoor storage (IOS) property to its portfolio by acquiring the fully leased 1500 High Meadows in Cedar Hill.
Apricus acquired the property in a programmatic joint venture with ABR Capital. Apricus Managing Principal Matt Haley, Vice-President Garrett Marler and Associate Cort Martin led the acquisition for the joint venture. Noah Dodge and Blair Oden Jr. of Colliers represented the seller. CW Sheehan, Peyton Ackerman and Nate Henderson of JLL represented the joint venture in the procurement of debt financing.
Located just 19 miles southwest of Dallas, Cedar Hill offers a strategic position between major metro areas, making it an ideal location for IOS operations, Haley said. The acquisition, structured as a sale-leaseback with Highway Intelligent Traffic Solutions—a leader in design-build for commercial, industrial and transportation projects—adds another quality tenant to the Apricus portfolio.
“1500 High Meadows was acquired with our programmatic joint venture partner, ABR Capital. This transaction marks the beginning of our second round of funding, providing fresh capital to fuel the continued expansion of our portfolio” Marler said. “Having successfully acquired numerous IOS sites with ABR Capital, we are excited to build on this momentum as we continue to aggregate IOS properties.”
The 7.5-acre site features an 18,000-square-foot building with an HFT service building and office space. HFT, or High Flow Through, refers to a building design optimized for the efficient movement of goods and vehicles, making it a critical component of IOS properties. This design ensures seamless operations by facilitating quick loading, unloading and transportation.
“The site and facilities exemplify the qualities of a mission-critical property,” Haley said. “Location is paramount for IOS sites, with demand driven by access to multiple transportation options and proximity to dense populations. This sale/leaseback with Highway Intelligent Traffic Solutions is a strong addition to our portfolio thanks to its exceptional physical attributes and high caliber tenant.”
“Our investment strategy centers on acquiring industrial outdoor storage properties within a $3- to $15-million price range. We continue to target properties in major Texas markets, key port and distribution hubs within Texas, and cities like Denver and Kansas City,” Martin said. “These locations are pivotal to supply chain dynamics and regional economic growth, aligning with our focus on investments in markets that offer both stability and long-term growth opportunities.”
This IOS acquisition follows several this year including the fully leased 9.7-acre 15800 Export Plaza in Houston, as well as the acquisitions of 9987 Wallisville and 12400 & 12402 Taylor Road, all in Houston.
About ABR Capital Partners
ABR Capital Partners (ABR) is a Baltimore-based real estate investment manager with a proven fifty-year track record, unconstrained access to the broadest opportunities in the middle market, and deep, long-standing relationships with leading real estate operators across the United States. Since the inception of the firm, ABR has acquired over $4.2 billion of assets, representing over 400 transactions, and seven firm-sponsored real estate funds. For more information visit abrcapital.com.
