Houston-based single-tenant actual property developer Welcome Group not too long ago introduced its newest funding: The acquisition of 5 properties — together with two highly-visible tasks in Pearland, Texas, and Sugar Land, Texas — in addition to its first in South Carolina, a part of the agency’s enlargement into the southeast U.S. area.
The corporate — which makes a speciality of manufacturing, lab, warehouse and distribution services — presently owns a various portfolio of greater than 6 million sq. ft throughout greater than 130 industrial properties in Texas and the southeast U.S.
“We’re seeking to develop our footprint in North Carolina, South Carolina and Georgia, particularly,” stated President and CEO of Welcome Group, Welcome Wilson, Jr. “That’s actually going to set the desk for us when it comes to long-term progress.”
Earlier this yr, Welcome Group acquired two industrial properties in Georgia, marking its first foray outdoors of Texas. Its second was one of many 5 portfolio properties bought most not too long ago, which additionally represents the agency’s first acquisition in South Carolina. Particularly, Welcome Group now owns Foxbank Industrial Park, a 31-acre facility that comes with 201,585 sq. ft of business constructing and warehouse area within the Goose Creek – Hanahan hall north of Charleston, S.C. Positioned at 2550 Freeway 52 in Moncks Nook, S.C., the property is occupied by Sea Fox Boat Firm, which develops and builds quite a lot of handcrafted saltwater boats.
The multi-property acquisition additionally included 522 Gillingham Lane in Sugar Land Enterprise Park, in addition to the ability at 14740 Kirby Drive in Pearland. These properties contribute a mixed complete of 143,100 sq. ft of larger Houston industrial and warehouse space to the agency’s portfolio.
The Sugar Land property is presently leased to Cubic ITS, Inc., whose Trafficware expertise promotes inexperienced initiatives by optimizing the circulate of motorist and pedestrian visitors. In the meantime, Cardiovascular Methods, Inc. — developer of progressive interventional remedy programs for sufferers with coronary heart illness — occupies the 8.7-acre Pearland property.
Welcome Group additionally added 122,773 sq. ft of flex and industrial space in San Antonio, Texas, with the acquisition of 6603 First Park Ten Blvd. and College Park Tech Middle V at 6203 Farinon Dr. Each properties embrace workplace area and laboratory services and are dwelling to testing laboratories firm LabCorp and specialty therapeutic medical machine producer KCI USA, Inc., respectively.
Final modified: February 28, 2022