Miami-based Exan Capital has purchased a fully leased, 1.01 million-square-foot fulfillment center leased to an investment-grade ecommerce retailer in the Houston-area community of Brookshire, Texas. The financial terms were not disclosed.
JLL Capital Markets worked on behalf of the seller, a publicly traded REIT.
Exan is working toward expanding its current portfolio by acquiring single-tenant office and industrial properties leased to investment-grade tenants in key markets across the United States. This sale marked the second acquisition in 2020 with this vehicle, following the July purchase of an office building in San Jose that is fully leased to a well-credited tenant.
The fulfillment center is situated on 84 acres at 31555 Hwy. 90 in Brookshire, a western suburb approximately 38 miles from downtown Houston. The property is within the West Houston Industrial submarket, one of the most desired in the city. The facility was constructed in 2018 by the seller
