CenterSquare Acquires Industrial Portfolio!
CenterSquare acquired a 244,946-square-foot service industrial portfolio in Houston.
The portfolio, known as Houston Woodlands, consists of four buildings in the Woodlands and Spring submarkets of Houston, with 88% occupancy.
- 55 suites averaging 4,454 square feet per suite
- oversized grade-level doors
- 17’-18’ clear heights
CenterSquare has an existing 9-property service industrial portfolio, Gateway Industrial Commons, in the Houston MSA.
These improvements, combined with our institutional management, will allow CenterSquare to successfully execute its value-add strategy and drive meaningful growth in net operating income.
The business plan includes a capital improvement plan with minor roof repairs, concrete repairs, and adding HVAC where needed.
Author summary: CenterSquare acquires Houston industrial portfolio.
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