Nine Property Texas-Heavy Business Park Portfolio Changes Hands

Empire Holdings has sold a nine-building national industrial portfolio to Philadelphia-based Arden Group. The deal included eight freestanding net-leased industrial buildings in the Texas markets of Dallas-Fort Worth, Houston, Austin, and San Antonio. A speculative industrial building in Houston that just completed construction also was part of the transaction.

Arden Group purchased the approximately 350,000-square-foot, single-tenant portfolio that includes assets across five states. Ranging from 16,000 square feet to 150,000 square feet, the properties are strategically located in major industrial markets with low building coverage and boast outside storage or excess land with opportunities for future growth or expansion. Buildings in more than two-thirds of the portfolio were built between 1999 and now. All offer stable tenancy in their respective markets. Arden recently formed a $1B Joint Venture specifically focused on acquiring low site coverage industrial assets, situated in dense, infill locations.

Stream Realty’s Seth Koschak and Jeff Rein worked with The Stan Johnson Company to co-represent the seller in the transaction.