Starcrest Portfolio. Picture courtesy of Fort Capital
Fort Capital has added to its San Antonio footprint with the acquisition of the Starcrest Industrial Portfolio, a 465,648-square-foot campus, bringing its U.S. industrial holdings to greater than 6 million sq. ft. The vendor was Forester Properties, in keeping with CommercialEdge.
The identical information supplier exhibits that greater than 3.3 million sq. ft of business area have modified fingers in San Antonio for the reason that starting of the yr. In one of many extra important transactions, KKR bought a four-building, 576,047-square-foot Class A property from Hines.
A Class B property within the Airport submarket
Also called Blossom Enterprise Middle, the campus got here on-line in 1983. The eight-building asset contains Class B mild industrial services with 14- and 18-foot clear heights, grade-level and dock-high loading doorways. Cavender & Hill Properties Vice President Thomas Bragg handles leasing on the property that was 89 p.c leased on the time of sale.
Positioned at 12005-12095 Starcrest Drive, the campus is roughly 5 miles from San Antonio Worldwide Airport and 14 miles north of downtown San Antonio. Its proximity to interstates 10, 35 and 410 gives handy entry to Austin, Houston Ship Channel or Port of Corpus Christi, Texas.
The San Antonio industrial market exhibits robust fundamentals and, with Tesla and Apple coming into the Austin-San Antonio hall, the metro has the potential of turning into a robust manufacturing hub, Fort Capital CEO & President Jason Baxter mentioned in ready remarks.
