Square Mile Capital Management has financed a 3.2-million-square-foot industrial portfolio in Texas known as the Stream Realty Partners development.
The project encompasses 300 acres and will be completed in two phases. Phase 1 of the Stream Realty Partners development was completed in 2020 and is 100-percent leased. Phase 2 is expected to be delivered in 2022.
According to Tom Burns, principal of Square Mile Capital, Phase 2 will consist of three cross-dock buildings and three front-load distribution facilities totaling 2.3 million square feet, and will capitalize on different tenant demand in the market.
Square Mile Capital said the West Houston submarket is especially strong for industrial real estate and features significant corporate users, such as Amazon, Igloo, Rooms To Go, Costco Wholesale, Ross Dress for Less, Southern Glazers, MedLine and Bel Furniture.
The financing was arranged by a team from JLL’s Houston office.
