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PacVentures Snags 10-Building, 811K-SF Portfolio
PacVentures acquired a 10-building, 811,000-square-foot industrial portfolio located in Brownsville, TX. The San Diego buyer came to an agreement with seller Sealy and Company to buy the portfolio, which is 96% occupied. Steve Rowland with Transwestern and Joe Simmons with Aquila Commercial represented PacVentures in the purchasing process.
The portfolio consists of:
- 1000 Billy Mitchell Blvd. – 120,120 square feet
- 1900 Billy Mitchell Blvd. Buildings A-D – 375,000 square feet
- 200 Texas Ave. – 64,956 square feet
- 600 – 800 Elca Lane – 251,016 square feet
PacVentures owns other Brownsville properties, and is steadily increasing its presence in the South Texas city. “This portfolio was a compelling opportunity because of the strong near-term fundamentals of the South Texas industrial market,” Rowland said. “PacVentures anticipates a negligible amount of speculative development, relieving concerns about new supply potentially impacting continued upward rent pressure.”
For comments, questions or concerns, please contact Amy Sorter
- ◦Sale/Acquisition
