REAL ESTATE INVESTMENT
Welcome Group | February 18, 2022
A pair of San Antonio industrial buildings have been acquired by Welcome Group, the second and third properties in the market purchased by the Houston-based single-tenant real estate developer specializing in manufacturing, lab, warehouse and distribution facilities.
The firm has acquired an 80,431 square-foot office/lab space on an 11.9-acre tract at 6203 Farinon Drive. The building is currently leased by KCI USA, Inc., a global advanced wound care company which develops innovative healing solutions for customers and patients. The building was built in 2004.
Welcome Group also acquired a 43,860 square-foot office/lab facility on a 4.5-acre tract at 6603 First Park Ten Boulevard. The property is located in a highly desirable infill location one mile from I-10, providing prompt easy access to Loops 410 and 1604. The building's first phase opened in 1987 and its second phase was completed in 1995.
We're certainly keeping San Antonio at the top of our list for future property acquisitions."
Welcome Wilson, Jr., president and CEO of Welcome Group.
Welcome Group now owns a diverse portfolio of more than 130 industrial properties spanning more than 6 million square feet. Tenants range from Fortune 500 companies to emerging entrepreneurial ventures in manufacturing, healthcare, energy, technology, warehouse and distribution, and other operations.
Financing for both acquisitions was provided by Frost Bank.
Welcome Group was represented in both transactions by Ryan Wasaff, senior vice president of Welcome Realty Advisors; Cole Bercher, associate at Welcome Group; and John Wilson of Welcome Group.
The seller of 6203 Farinon Drive was represented by John Taylor of JLL. The seller of 6603 First Park Ten Boulevard was represented by Luis Garza of Transwestern.
About Welcome Group
Welcome Group is a leader in the development and ownership of single-tenant industrial facilities for some of the world's most respected names in business and currently owns over 6 million square-feet in Texas and the southeast U.S. The company also offers build-to-suit and design-build services for interested firms and is actively seeking direct purchase and sale-leaseback opportunities throughout Texas and the southeast United States.
prnewswire | October 05, 2020
Through a series of recent developments and acquisitions, Welcome Group, LLC, now has more than 5 million square feet of industrial space within the company's commercial real estate portfolio in Texas. The Houston, Texas-based real estate owner and developer's extensive growth aligns with the company's expansion goals. Welcome Group's robust portfolio consists of single-tenant commercial, distribution, lab, and manufacturing properties. The company is actively seeking more development, purchase and sale-leaseback opportunities to achieve the next goal of owning over 6 million square feet of industrial real estate space by the end of 2021.
REAL ESTATE INVESTMENT
JLL Income Property Trust | January 14, 2022
JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.9 billion in portfolio assets, today announced the acquisition of Elgin Distribution Center, a Class A, two-building industrial property totaling 407,000 square feet and located in the northwest Chicago suburb of Elgin, Illinois. The purchase price was approximately $47 million.
The Elgin Distribution Center fits squarely within our industrial investment thesis as a well-located, newly constructed property with strong tenant profiles, The Elgin warehouse submarket stands out for its access to a robust labor pool and close proximity to Chicago, along with O'Hare International Airport, which we believe will drive long-term value for these properties. Industrial remains an overweight target for our portfolio given our belief that it will provide strong, long-term cashflow to our diverse portfolio. Our aggregate industrial allocation is now over $1.7 billion, or approximately 30 percent of our $5.9 billion portfolio, and includes 54 properties across 13 key markets."
Allan Swaringen, JLL Income Property Trust President and CEO.
Recently constructed in 2020, the properties are built to state-of-the-art design specifications. The larger building, which totals over 326,000 square feet, is cross-docked with 33-foot clear heights. The smaller building, which totals more than 80,000 square feet is rear docked and has 29-foot clear heights and includes a front-office. The properties are 100 percent leased with a weighted average lease term of approximately 10 years.
According to LaSalle Research & Strategy, the Chicago metro is the country's second largest industrial market, with 1.2 billion square feet of industrial space. Chicago's central location, proximity to irreplaceable transportation infrastructure and access to a large population make it a critical hub for national distributors. Over the four quarters ending in Q1 2021, Chicago's industrial market experienced 18.5 million square feet of net absorption and a steady decline in vacancy rates. Chicago also has the highest going-in yields of any gateway industrial market in the U.S. The Elgin Distribution center also benefits from access to a growing population and large labor pool, as well as excellent access to major transportation nodes including Interstate 90, Route 31, Randall Road and Route 47.
JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms.
About Jones Lang LaSalle Income Property Trust, Inc.
Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages over $76 billion of assets in private and public real estate property and debt investments as of Q3 2021. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments.