Harbor Capital Closes Acquisition of Meadow Edge Business Park in Spring, Texas
Harbor Capital announces the acquisition of Meadow Edge Business Park, a newly constructed portfolio of 13 Class A single-tenant industrial buildings totaling 254,780 square feet located at 1800 Meadow Edge Ln in Spring, Texas, one of North Houston's highest-growth industrial submarkets.
Harbor Capital secured Meadow Edge more than 18 months prior to construction completion through an off-market forward purchase agreement, allowing the firm to lock in acquisition pricing well below current market replacement cost. The project was developed by TNRG and constructed by Urban Companies.
The 13 buildings range from approximately 4,900 to 36,400 square feet, with an average unit size of roughly 19,600 square feet, addressing an underserved segment of the North Houston industrial market. While recent development activity has been heavily weighted toward large-format bulk industrial space, Meadow Edge provides smaller-format, single-tenant buildings designed to serve both owner-users and credit tenants seeking quality, functional space in a supply-constrained size range.
Harbor Capital dual-tracked each building for sale and for lease in the months leading up to acquisition. At closing, five buildings were under purchase agreements, with one additional sales PSA in negotiation. Additionally, one building has lease terms agreed to, and the remaining six buildings are generating consistent tour activity.
Thomas Leger, Matt Jorgensen, and Thomas Monaghan at Lee & Associates are leading leasing and sales efforts on behalf of Harbor Capital. Please contact L&A directly for all leasing and sale inquiries at (713) 744-7400.
