Apr 3, 2017
Underwood Distribution Center changes hands for $155M
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,...
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.
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