133K-SF Sale-Leaseback Succeeds in Northwest Houston

Industrial Property Trust of Denver acquired a 133,480-square-foot industrial distribution facility at 7350 Langfield Rd. in Houston’s northwest area. Frisco, TX-based Warrior Creek Realty, is owned by the same entity that owns the tenant, T&L Distributing, which will be leasing back 100% of the asset from IPT.

The sales price was undisclosed, with the asset valued at $9.2 million.

Dustin Volz, Kevin McConn, Zane Marcell and Grant Matthews with JLL led the team on the sale leaseback. The property is T&L Distributing’s headquarters. The tenant, a flooring distributor, also has seven additional warehouse locations serving the southwest and parts of the southeast.

“We are seeing sustained demand for quality distribution space in Houston, particularly in the northwest industrial submarket,” Volz said. “Industrial Property Trust owns a number of surrounding assets near 7350 Langfield, and were interested in acquiring more properties in the area.”

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