Gupta Partners, a nationwide private real estate investor based in Michigan, has purchased the 276,000-square-foot, nine-building Beltway 8 Industrial Park on 9.32 acres at 5829 W. Sam Houston Parkway North. Bradley Kovach of Moody Rambin represented Gupta Partners and Jim Autenreith of Moody Rambin represented the seller, a California-based investment group, in the transaction. Moody Rambin will lease and manage the property, part of Gupta’s 876,000-square-foot commercial real estate portfolio in Houston.
At 88 percent occupancy, Beltway 8 Industrial Park offers flex space for small businesses from 2,400 to 12,000 square feet. Among the tenants are retailers, professional offices, health care providers, technology/communications firms and wholesale service companies. Larger tenants include Jace Auto Wheel and Tire Specialists, and Lumber Liquidators. The property is located on the west side of West Sam Houston Parkway North between Tanner and Brittmoore.
“Beltway 8 Industrial Park’s location, occupancy and tenant mix were significant factors in this acquisition,” says Jonathan Gupta of Gupta Partners. “This property complements and diversifies our long-term investments in Houston.”
“Increasing density in all types of real estate is pushing demand for small-space users, particularly in the service center category,” says Bradley Kovach, Senior Vice President, Moody Rambin. “This location offers added value and quality in a business address with Beltway 8 frontage and visibility.”
In addition to Beltway 8 Industrial Park, Gupta Partners has six office properties in the Houston area, including 10700 Richmond and 3200 Wilcrest in the Westchase submarket; 2180 and 2190 North Loop West in the North Loop area; 12946 Dairy Ashford in Sugar Land; and 550 Westcott in Midtown. The office portfolio is 88 percent leased.
Moody Rambin’s Jim Autenreith will handle lease negotiations and marketing of Beltway 8 Industrial Park. J.C. Estes, also of Moody Rambin, will handle property management.