Stream Realty Partners bought 400,000 square feet of industrial space in San Antonio, nearly 170,000 square feet of which is refrigerated and freezer space.
Industrial Facility @ 5711 FM 78
After watching the industrial market heat up over the past few years, the firm was looking to cool things down. Well, kind of.
The commercial real estate firm bought property at 5711 FM 78 — a Class A food-grade distribution facility that was a former warehouse for Houston-based Sysco Corp. before it moved to New Braunfels. The site was put up for sale a couple of years ago, but even at $15 million — a bargain considering similar facilities cost about $40 million alone to build — the building had been left vacant.
To speed up the process, Sysco steadily dropped the price until it caught Stream’s attention. The deal, which also includes warehouse and truck maintenance facilities at 5235 and 5246 Tacco Drive, respectively, became one the firm thought was simply too good to pass up.
Click to read entire article: Stream’s cool acquisition shows signs of hot industrial market (San Antonio Business Journal, 03-03-15)
