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7/17/24
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Macquarie Asset Management completed the acquisition of 59 Logistics Center, a newly completed 509.6k sf distribution building near George Bush Intercontinental Airport (IAH) in the Houston suburb of Humble, TX. The Class A logistics building is fully leased to United Airlines (NYSE: UAL) on a long-term basis.
Located at 17440 Highway 59, the facility features a 36-foot clear height, along with 93 dock-level doors, four drive-in doors and parking for 119 trailers. Although currently leased to a long-term tenant, it can be easily subdivided for multiple tenancy.
The property was developed, leased to United Airlines, and sold to Macquarie by Hunt Southwest Real Estate Development, a Dallas-based developer of state-of-the-art industrial facilities. Nathan Wynne, Randy Baird, Jonathan Bryan, Ryan Thornton, Eliza Bachhuber, and Elliot Dow of CBRE National Partners represented Hunt Southwest in the sale of the building.
United is in the process of adding significant tenant improvements to the building. The property is less than five miles from IAH with immediate access to Highway 59 and is also within five miles of Beltway 8, which provides easy access to anywhere in the Houston MSA.
The purchase includes nine acres of developable land suitable for parking or storage.
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