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Thursday, February 09, 2012 Industrial
ING Clarion and Pinto Realty Partners formed a joint venture to acquire 1,226 acres of the 4,000-acre Jacintoport Industrial Park in the Houston ship channel from a local partnership. Though the sale price was not disclosed, other land deals in the area have ranged from about $75,000 to $100,000 per acre. The property is located at Beltway 8 East and Interstate 10 East. The purchase includes 432 acres fronting deep water on the channel, 213 acres of off-water industrial sites, a 209-acre nature conservancy and a 372-acre private dredge spoil and reclamation facility. The joint venture is researching and analyzing potential uses for the property that is suited for businesses involved in steel, crude products and specialty chemicals. The property is the last large piece of deepwater property on the Houston ship channel. Gary A. Mabray and Michael J. Taetz with Colliers International represented the seller. Colliers also represented Pinto and ING Clarion. Headquartered in New York, ING Clarion and its affiliates manage more than $40 billion in assets in the private equity, public equity, and public debt sectors of the real estate markets. They are a wholly owned subsidiary of the Dutch insurance and financial services giant ING Group. Pinto Realty is a development company based in Houston. Address: Beltway 8 East and Interstate 10 East, Houston, Texas Size: 1,226 acres Filed Under: Industrial E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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