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Sign in Sign up for a FREE subscriptionCenterSquare JV announces Houston-based service industrial portfolio acquisition
CenterSquare Investment Management, in a joint venture with PAGEWOOD, announced the acquisition of Gateway Industrial Commons, a 621,000-square-foot service industrial portfolio located in the Northwest Submarket of Houston.
Comprising 46 buildings and nine properties, the portfolio caters to a diverse array of service-oriented tenants and accommodates users of various sizes, with spaces ranging from 1,000 square feet to 30,000 square feet. Properties within the portfolio feature 14–15 foot clear heights and an average office buildout of 19 percent. The portfolio spans the Southern Brittmoore and lower 290 corridors of Houston and is accessible via several major throughways, including Interstate 10, Beltway 8 and U.S. Route 290.
CenterSquare and PAGEWOOD intend to address deferred maintenance and make capital improvements throughout the properties, including concrete repairs, metal framing upgrades, new signage, exterior paint and executing make-ready tenant improvem
