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Sign in Sign up for a FREE subscriptionCenterPoint adds rail-served distribution facility in Texas to portfolio
CenterPoint Properties has acquired a 601,261-square-foot, rail-served distribution facility in Pasadena, Texas, for an undisclosed amount.
Located on 31 acres, the class A building has a rare combination of rail service by Union Pacific, BNSF and Kansas City Southern via the Port Terminal Railroad Association (PTRA), abundant rail car capacity, outdoor storage space, and strategic port and highway access, according to CenterPoint.
The firm noted that the building has six rail spurs, giving it more railcar storage capacity than most rail-served buildings in the market. It also has numerous other amenities that make it ideal for regional distribution.
“There are few buildings in the Houston market that can compare to this facility,” said Rives Nolen, senior vice president of investments at CenterPoint. “The asset aligns extremely well with CenterPoint’s national port investment strategy.”
The property is located less than 20 miles from downtown H
