Arden Logistics Parks buys light industrial portfolio in Houston
Arden Logistics Parks, a real estate operating platform launched by the Arden Group, has purchased Hardy Light Industrial Portfolio in Houston. The portfolio consists of 34 multi-tenant industrial warehouse properties totaling 861,046 square feet in the heart of Houston’s North Hardy Toll Road submarket.
The financial terms and the seller were not disclosed.
Built in 1980, the value-add light-industrial portfolio has been owned by several non-institutional owners since 2006. The properties are at the convergence of numerous highways and interstates, providing direct access to the north and south via Interstate 45 and Hardy Toll Road, and to the east and west via Beltway 8. The submarket is marked by numerous high-profile institutional real estate owners including REITs, pensions, and private equity funds.