January 8, 2020
Welcome Group, LLC, a Houston, TX-based commercial real estate owner and developer, acquired 3004 Aldine Bender consisting of three (3) leased, single-tenant buildings totaling 116,790 square feet and 18.6 acres of stabilized pipe yard situated on a total of approximately 38.09 acres.
Circle 8 Services, Inc leases 38,650 SF with 4,400 SF of office space and 34,250 of warehouse space. The building was built in 1982 and has 12 oversized, grade level doors, along with 2 dock doors situated on approximately 9.6 acres of concrete/stabilized yard for outside storage.
Kellogg Brown & Root, LLC leases 48,000 SF with 6,600 SF of office space, and 41,400 SF of warehouse space. This building was built in 2011 and is situated on approximately 5.4 acres of land.
SRS Distribution, Inc leases 30,140 SF with 1,576 SF of office space, and 28,564 SF of 20-ton, crane-ready warehouse space. This building was built in 2014 and is situated on approximately 2.76 acres. This property is currently available for lease in February 2020.
Edgen Murray Corporation leases the 18.6-acre pipe storage yard secured by a chain-link fence and security gate at the entrance. This property includes several small, metal buildings and an office trailer.
The acquisition of the Aldine Bender Complex offers Welcome Group the opportunity to purchase three, well-located buildings, along with a leased pipe yard.
Ryan Wasaff, Senior VP of Welcome Reality Advisors, and John Wilson, Welcome Realty Advisors Consultant, represented Welcome Group in the transaction.
Partial financing for the acquisition was provided by an existing industrial property acquisition facility agented by the Houston office Spirit of Texas Bank.
Welcome Wilson, Jr., President and CEO of Welcome Group stated, “We are proud to add this complex near Bush Airport to our expanding portfolio.”
About Welcome Group: Welcome Group owns over 97 industrial properties in Texas comprising nearly 4.44 million square feet. Ninety percent of the properties are located in the Houston metropolitan area. Welcome Group owns and leases single-tenant office, distribution, lab and manufacturing facilities in Texas. The Company also offers build-to-suit and design/build services for new properties. For more information visit www.welcomegroup.com.
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