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Underwood Distribution Center changes hands for $155MUnderwood Distribution Center changes hands for $155Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=162202017-04-03T05:00:00Z2017-04-03T22:00:00Z

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LA PORTE – The Underwood Distribution Center, an industrial park, located at 359 Old Underwood Rd. has changed hands.

The Class A park currently has five buildings totaling 2.2 million feet, which are 100 percent leased, and three development parcels.

Houston-based Hines purchased the industrial park from BlackRock for $155 million. 

Hines plans to rebrand the park as Independence Logistics Park and begin developing Building 6.

The new front-load distribution building will add 167,000 sf, and is scheduled to reach completion during fourth quarter 2017.​
Commercial Property Executive
Houston-The Woodlands-Sugar Land
Industrial
https://www.cpexecutive.com/post/hines-buys-houston-logistics-park-for-155m/

​Check out Houston Industrial Market Research.

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