Seoul-based Mirae Asset Global Investments has purchased the 1.5 million-square-foot property at 1800 North Mason Road in Katy, Texas, which serves as the headquarters and distribution center for Academy Sports & Outdoors, for $190 million. The seller was Tratt Properties.
“Industrial assets occupied by high-credit tenants with strong ecommerce business continue to underlie investor interest in the net-lease space,” said Ken Hedrick, Newmark executive managing director, which represented the seller. “From a logistics perspective, this property is exceptionally well located, with access to highways in all directions. The scarcity and increasing value of land in the west Houston area further enhance the property’s value.”
The 93-acre property includes more than 1.25 million square feet of industrial space, 250,000 square feet of office space and 800,000 square feet of mezzanine space. The three-building asset features loading doors, dock levelers, dock bum
