Pagewood, CenterSquare Acquire 621,432 SF Industrial Portfolio in Northwest Houston

HOUSTON — A partnership between locally based development and investment firm Pagewood and metro Philadelphia-based CenterSquare Investment Management has acquired a portfolio of nine industrial properties totaling 621,432 square feet in Houston. The portfolio comprises 46 shallow-bay buildings across 34 acres on the city’s northwest side. Stephen Ghedi and Jim Autenreith of locally based brokerage firm Moody Rambin represented the seller, HRES Group, in the transaction. Nick Spearman, Mat Volz and Paul Coonrod of Pagewood, in conjunction with Victoria Madrid and Burke Campbell of CenterSquare, represented the partnership. Warren Hitchcock and Blane Eikenhorst of Northmarq arranged acquisition financing for the deal. The new ownership plans to implement a capital improvement program across the portfolio and rebrand the properties as one development known as Gateway Industrial Commons. Partners Real Estate has been appointed as the leasing agent for the buildings.