In August 2013, CenterSquare, on behalf of a core-plus separate account client, acquired 12900 W. Airport Blvd., a 300,000 square foot industrial warehouse building located in Sugar Land, TX, a submarket of Houston. Sourced off-market from a family trust, the property was 100% leased to a single tenant who was underutilizing the building and marketing it for sublease. While the family trust was motivated to sell the property due to their fear of impending vacancy, CenterSquare viewed it as an opportunity to re-lease the property at higher market rents while also improving the tenant quality.
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