Morgan Stanley fund sells Houston industrial project

A fund advised by Morgan Stanley Real Estate Investing has sold East Belt Business Park, a four-building, class A industrial project totaling 350,000 square feet in Houston’s Southeast submarket.

TA Realty purchased the asset.

Developed in phases in 2004 and 2008, East Belt Business Park comprises two rear-load and two cross-dock buildings that feature 20- to 24-foot clear heights, 114 dock-high doors, 14 drive-up ramps, 510 parking spaces and truck courts ranging from 120- to 180-foot. Additionally, the property’s flexibility caters to tenants of all sizes, which has provided the ability to remain more than 90 percent leased since delivery. The project is situated on 23.7 acres at 1455–1485 East Sam Houston Parkway South in the highly sought-after Southeast submarket, which is the second-largest industrial submarket in Houston. With frontage along Beltway 8 (Sam Houston Tollway), East Belt Business Park provides regional connectivity to the entire Houston MSA