Cedar Port Park is First of Two Assets Westcore Plans to Buy

Westcore recently acquired Cedar Port Park, consisting of four 210,000-square-foot industrial buildings, for an undisclosed price. The Texas-based seller was NIT Industrial.

The industrial park is located at the corner of FM 1405 and Oscar Nelson Junior Drive in Baytown, TX. The newly developed property is part of Cedar Port Industrial Park, which at 20,000 acres, is the largest master-planned, rail-and-barge served industrial park in the country.

Cedar Port Park was particularly attractive to Westcore because it is adjacent to the business terminals at the Port of Houston. The property also features 40-foot access drives, heavy haul roads throughout, 200-foot truck courts, and proximity to public barge and rail terminals within the park.

“We are thrilled with its location within one of the nation’s largest business parks,” says Peter Mette, Westcore managing director. “We acquired this modern state-of-the-art property on an attractive basis and see great momentum in this submarket.”

According to Colliers’ second quarter industrial report, leasing velocity was up 30 percent from the first quarter in Houston overall, and vacancy dropped 10 basis points.

Cedar Port Park is one of two new properties that Westcore agreed to purchase from NIT Industrial in Texas. The other project, Eisenhauer Business Park in San Antonio, is still under construction and will consist of four buildings and 377,314 square feet once complete in early 2022.

NIT Industrial and Westcore were self-represented in this transaction.