Rising Realty Partners Enters TX with Commerce Center Stafford Buy

Rising Realty Partners recently acquired Commerce Center Stafford, a multi-use/light industrial park comprising 16 buildings totaling 245,495 square feet in southwest Houston. The price was undisclosed.

The property represents Rising’s first asset in Texas and third industrial property acquisition in the last 12 months. The company also owns and/or manages more than 5 million square feet in California, Colorado and Nevada.

“We’re excited to enter the Texas real estate market, one of the fastest-growing pro-business environments with a strong demand for light industrial space,” said Christopher Rising, co-founder and CEO of Rising. “We remain bullish on light multi-use industrial and logistics spaces in Sunbelt states from California to Texas.”

Built between 1996 and 2004, and currently 90 percent occupied, the property has benefited from significant leasing activity and rent growth due to its strategic location and limited supply in the surrounding area.

Capital for the acquisition was primarily secured through the Rising Investor Platform to raise limited partnership investment capital. Additional capital was secured through RealtyMogul. Commerce Center Stafford is the third asset acquired as part of the Rising Investor Platform, joining Cheyenne Airport Center in North Las Vegas and 9320 Telstar in El Monte, CA.

“Commerce Center Stafford, a versatile light-industrial property with robust leasing activity in a strategic location, is an attractive asset to implement our institutional operating philosophy and strategy to enhance the performance of the property, which plays to our strengths as an operator,” said Scott C. Word, principal of the industrial platform.

Charlie Strauss, Trent Agnew, Katherine Miller and Jack Moody of JLL capital markets represented the seller in the transaction.

Rising Investor Platform is Rising’s internal platform where accredited investors can partner with Rising in a building’s ownership structure.