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Portfolio
Case Study / Industrial Outdoor Storage / Sold
Overview
Building SF
408,553 SF
Total Acres
95 Acres
Docks
333
Overview
Acquisition Date
November 2020
Property Type
Truck Terminal
Size
458,307 square feet on a 95-acre site
Key Features
333 doors, 30-bay maintenance facility, 1,000 trailer positions
Dayton Street Partners acquired this site in Houston, Texas, from Southwest Premier Properties on November 16th, 2020. At closing, Central Freight Lines leased a substantial portion of the Property. This 95- acre site contains a 408,553 square foot, 333-door truck terminal and a 49,754 square foot truck maintenance with 30 service bays. Upon closing, DSP commenced a $30M renovation of the property, including the development of an additional 29 acres of trailer parking. The property is located at the intersection of Mesa Drive and Attwater Street, approximately 1.7 miles northeast of I-610 (“Loop”), 5.5 miles north of I-10 and 5.1 miles east of I-69, 7.2 miles from the Port of Houston and 7.3 miles northeast of Houston’s central bus ness district. Central Freight Lines vacated the premises, and DSP leased the property to Performance Team (Maersk) under a long-term lease at rents 39% higher than Pro-forma. DSP sold this asset to an institutional investor in 2023. IRR to our investor was 68.7%.
