DALLAS, April 6, 2018 /PRNewswire/ -- Colony Industrial
announced today that it has acquired Enterprise Industrial Park in
San Antonio, TX for $52.1 million. Colony Industrial is the
industrial platform of Colony NorthStar (NYSE: CLNS), a diversified
global real estate investment firm with $43
billion of assets under management.
Enterprise Industrial Park, located at 17745 Lookout Road, is a
two building, Class A light industrial complex totaling 639,797
square feet. The buildings are currently 88% leased to nine
high-quality tenants with a weighted average lease term remaining
of 5.3 years. The property is conveniently located within one mile
of a full-diamond interchange of Interstate 35, the city's major
North-South interstate highway.
Lew Friedland, Managing Director
at Colony NorthStar and head of Colony Industrial, said, "We are
excited to enter the growing San
Antonio market with Enterprise Industrial Park, Colony
Industrial's first acquisition in this market. Ecommerce and the
increasing need for fast delivery are driving strong demand for
well-located, infill warehouse space that occupies the critical
"last-mile" link in the logistics chain. We look forward to
expanding our presence in San
Antonio."
Randy Baird, Jonathan Bryan, and Ryan
Thornton from CBRE National Partners acted as real estate
brokers on the deal.
About Colony Industrial
Headquartered in Dallas, TX, Colony Industrial is the
industrial platform of Colony NorthStar (NYSE: CLNS), a diversified
global real estate investment firm with $43
billion of assets under management. The platform owns and
manages over 45 million square feet of warehouse buildings in 18
major markets across the United
States. Its diversified tenant base includes major national
B2B, B2C, wholesale and consumer businesses. For more information,
visit www.clns.com/industrial.
About Colony NorthStar
Colony NorthStar, Inc. (NYSE:CLNS) is a leading
global real estate and investment management firm. Colony
NorthStar has significant property
holdings in the healthcare, industrial and hospitality sectors,
other equity and debt investments and an embedded institutional and
retail investment management business. Colony NorthStar currently has assets under
management of $43 billion and manages
capital on behalf of its stockholders, as well as institutional and
retail investors in private funds, non-traded and traded real
estate investment trusts and registered investment companies. The
firm maintains principal offices in Los
Angeles and New York, with
more than 500 employees in offices located across 18 cities in ten
countries. Colony NorthStar will
elect to be taxed as a REIT for U.S. federal income tax purposes.
For additional information regarding Colony NorthStar and its
management and business, please refer to www.clns.com.
Contacts:
For Colony Industrial
Owen Blicksilver Public Relations, Inc.
Lisa Baker
914-725-5949
lisa@blicksilverpr.com
or
Caroline Luz
203-656-2829
caroline@blicksilverpr.com
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SOURCE Colony Industrial