Harbor Capital has expanded its Houston portfolio with the acquisition of 1950 S Starpoint Drive, located minutes from George Bush Intercontinental Airport. The property, purchased on December 30, 2022, is a Class B flex industrial facility sitting on a 2.15-acre lot that offers 24,438 square feet of total space, including 10,000 square feet of office space and over 14,000 square feet of industrial space.
The 1992-built concrete tilt-wall facility features over 1.5 acres of outdoor storage, as well as 13 dock-high doors and a backup generator. The acquisition was facilitated by Doc Perrier, Vice President of Acquisitions at the Finial Group, a leading commercial real estate brokerage firm. In addition to the acquisition, Harbor Capital has contracted Finial to lease the property, which is currently occupied by the building’s seller through July 2023.
“We are thrilled to add 1950 S Starpoint Drive to our growing Houston portfolio,” said Levi Benkert, CEO of Harbor Capital. “This property represents a prime example of our investment strategy, which focuses on acquiring and leasing out Class B industrial real estate assets in select key markets throughout the Texas Triangle. We believe the region encompassing Houston and the I-35 corridor running from San Antonio to the Dallas-Fort Worth Metroplex is building the future, and demand in the region’s industrial real estate rental market continues to grow. We are excited to continue investing in this dynamic region, partnering with select investors, and utilizing conservative underwriting and oversized reserve funds to deliver consistently strong returns.”