JV ACQUIRES 772,500-SQUARE-FOOT DISTRIBUTION PROPERTY
LA PORTE, TEXAS — A partnership between Colorado-based Mountain West Industrial Properties and Galveston, Texas-based American National Insurance Co. has acquired Bayport N. Distribution Center II, a two-building industrial property located in La Porte. The recently constructed project is situated at the intersection of Fairmont Parkway and Underwood Drive, and includes two cross-docked facilities measuring 600,000 and 172,500 square feet. The recently constructed property was 17 percent pre-leased at the time of closing. It was acquired from the developer, Vantage Cos., which has been retained to manage and lease the property. The acquisition price was undisclosed.