Colony Industrial Acquires 639,797 SF Industrial Park in Metro San Antonio
SCHERTZ, TEXAS — Colony Industrial, a division of Los Angeles-based REIT Colony Northstar, has acquired Enterprise Industrial Park, a 639,797-square-foot property located at 17745 Lookout Road in Schertz, a northeastern suburb of San Antonio. Developed by Atlanta-based Robinson Weeks Partners, the two-building complex was 88 percent leased at the time of sale to nine tenants with a weighted average of 5.3 years remaining on their leases. Space is available at Building II, which features a cross-dock configuration with 32-foot clear heights, 73 trailer spaces, an ESFR sprinkler system and an office finish. Randy Baird, Jonathan Bryan and Ryan Thornton of CBRE brokered the sale. The Dallas Business Journal reports that the sale price was $52.1 million.