MDH Partners announced the acquisition of South Belt Central Building 4, a 603,389-square-foot, Class-A industrial building located in Houston. Georga Rowe served as the acquisition lead for MDH Partners. Trent Agnew, Charles Strauss, and Tom Weber with JLL represented the seller.
South Belt Central Building 4 is located within South Belt Central Business Park, a 3.3 million-square-foot industrial park situated on 36.9 acres of land. Delivered in 2023, the property features 442 parking spaces, 196 trailer parking spaces, ESFR sprinkler systems and 36-foot clear heights. South Belt Central Building 4 is ideally positioned in the South Houston industrial submarket with frontage on Beltway 8, and located just 2.7 miles east from US Highway 288, providing excellent connectivity. The property has convenient access to the Port of Houston, Downtown Houston, Texas Medical Center and the population base of South Houston.
According to JLL, the Houston industrial market saw 5.5 million square feet of space absorbed in the first quarter of 2023 and at the end of the quarter, only 6% of the region’s industrial space remained vacant. In addition, the strong competition for space in Houston has caused asking rates to grow, with the average rental rate increasing by 15% from the same period in 2022.
South Belt Central Building 4 increases MDH Partners’ Texas footprint to more than 3.9 million square feet. In April, the firm acquired Fort Worth Logistics Hub, a 670,914-square-foot, Class-A industrial building occupied by Samsung SDS America and located in Fort Worth, Texas. MDH Partners has remained active this year, acquiring nearly five million square feet of industrial assets throughout the U.S. since last January. The firm recently expanded its portfolio into new markets including California, Minnesota, Maryland, Indiana, Illinois and Pennsylvania, and currently owns more than 101 assets across 20 states.