OpenPath Acquires 528K-SF E. Texas Industrial Park

OpenPath Industrial Partners acquired 2938 Brown Road, a 528,750-square-foot industrial distribution center in Marshall, Texas, in far east Texas, about two hours east of Dallas. Commercial Edge reports that Minglewood Properties previously owned the asset. Binswanger brokered the deal. At one time, they listed it at $16.8 million.

OpenPath says it was able to lease the building to a Fortune 500 company prior to closing. Built in 2001, the Brown Road facility has 7,000 square feet of office space, including break rooms and a conference room, and 300 paved and lighted parking spaces. The site allows for flexible demising or expansion strategies.

The asset is minutes from U.S. Highway 80, U.S. Highway 59 and Route 42. 

OpenPath’s Jason Lennartz added, “It’s a rare combination of scale, infrastructure and location that aligns perfectly with our strategy of acquiring logistics-oriented assets in high-demand transportation corridors.”