Apricus Realty Capital Continues to Grow Industrial Outdoor Storage Portfolio
Photo courtesy of Apricus Realty Capital. Credit: Davis Lamberton
HOUSTON (April 3, 2024) – Dallas-based Apricus Realty Capital expanded its industrial outdoor storage (IOS) portfolio with the acquisition of 9987 Wallisville Rd. in Houston. The 8-acre parcel provides fully secured truck parking for a freight logistics operator, alongside a truck servicing facility and office building.
Acquired in a programmatic joint venture with ABR Capital, Apricus was self-represented by Managing Principal Matt Haley, Vice President Garrett Marler and Associate Cort Martin.
“Apricus continues to actively look for infill IOS properties featuring access to population centers, major thoroughfares, intermodals and airports to enhance its growing portfolio. Characteristics for the most desirable infill projects are generally sub-20% building coverage, with a yard for a variety of industrial uses,” Haley said.
“Most of our target-uses require storage for truck trailers, building materials, heavy equipment storage/rental, container storage, bulk materials, etc.,” Marler added. “The sweet spot for our investments are IOS properties ranging from $5-15 million and larger purchases of existing portfolios.”
“We are interested in major Texas markets plus any port or distribution hubs,” Marler said. “Infill locations are always highly desirable. We are also looking to expand our focus into other major markets including Phoenix, Denver, and Kansas City.”
“The Wallisville property is positioned conveniently within the Northeast I-10 submarket on Wallisville Road and benefits from convenient access to Interstates 10 and 610 as well as proximity to the Port of Houston,” Haley said. “The upside of these investments is the tremendous demand for these outdoor storage spaces. With its proximity to the port, major highways, and Union Pacific yard, the property is well suited for a truck trailer/logistics company.”
This IOS acquisition follows Apricus’ most recent purchase of 12400 and 12402 Taylor Rd. in Houston.
About Apricus
Dallas-based Apricus Realty Capital is a boutique commercial real estate investment firm focused on institutional quality industrial/industrial outdoor storage, Class-A office and retail properties. We bring deep experience and extensive market knowledge to the table. Founded in 2021, the 48% female-owned firm is led by an experienced management team with cross-functional expertise in commercial real estate and property investment.
