A joint venture partnership between IDI Logistics and Heitman has sold Park 845 Crossing, a five-building industrial park totaling 757,325 square feet in Houston.
The new owner is an affiliate of Equus Capital Partners Ltd.
JLL Capital Markets has closed the sale and arranged the $55 million financing of Park 845 Crossing.
Park 845 Crossing is located at the intersection of Interstate 45 and Beltway 8 at 1710 North Freeway and 51, 71, 101 and 121 Esplanade Blvd. in the North Houston industrial submarket. The strategic location affords the property regional connectivity to the entire Houston area and is just eight miles from George Bush Intercontinental Airport and 15 miles north of Downtown Houston.
The class A properties were built from 2008 to 2014 and offer 18-foot to 30-foot clear heights, 186 dock doors, two buildings with cross-dock configurations and three buildings with rear-load configurations. Overall, Park 845 Crossing is 61.5 percent leased to
