BROOKSHIRE, TEXAS — Stream Realty Partners has sold two industrial buildings totaling approximately 1.6 million square feet in Brookshire, a western suburb of Houston, to institutional investment firm BGO (formerly known as BentallGreenOak). The sales price was not disclosed.
The structures are Buildings 9 and 10 within Empire West, a 10-building, 3.9 million-square-foot development that was completed in phases over the past six years. Both buildings were fully leased to Tesla at the time of sale.
Construction of Phase I of Empire West began in summer 2020 and comprised three buildings totaling roughly 1 million square feet. The second phase was completed in fall 2022 and totaled another 2.3 million square feet across six buildings.
Other tenants at Empire West, which also features a 16.6-acre outdoor storage yard, include Professional Packaging, H-E-B, Ferguson Enterprises, Pointsmith Point-of-Purchase Management Services and Cotton Commercial USA.
Seth Koschak, Matteson Hamilton, Justin Robinson, Mustafa Ali and Adam Jackson of Stream Realty Partners coordinated with Eastdil Secured to broker the deal.
Earlier this year, Stream sold Buildings 1, 3 and 8 within Empire West, which collectively total approximately 1 million square feet, to Kansas City-based investment firm NorthPoint Development. That sale included the aforementioned outdoor storage yard.
“Empire West combines scale, heavy power availability and cutting-edge design that positions the project for long-term outperformance, as evidenced by the depth of investor interest and the caliber of users on campus,” says Robinson, who holds the title of executive managing director and partner at Stream.
— Taylor Williams