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Denver co. boosts Houston presence with massive industrial acquisition

March 23, 2016

Mar 22, 2016, 8:21am CDT | Laura Furr | Houston Business Journal

A Denver-based company has purchased close to 200,000 square feet of industrial space in Houston as part of a larger deal spanning across Texas, Kentucky and Oklahoma.

Industrial Property Trust purchased the building at 302 West Road, near the convergence of Beltway 8 and Interstate 45, for $59.9 million, the Houston Chronicle reports. The 190,565-square-foot building is fully leased to Victory Packaging, a Houston-based packaging services and distribution company.

The deal will boost Industrial Property Trust’s Houston presence significantly. Before the deal, it had grown its portfolio in the city to 1.7 million square feet, according to the Chronicle.

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