Welcome Group Expands Portfolio with Acquisition of Houston, San Antonio and South Carolina Industrial Properties

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Feb 11, 2022, 15:51 ET

HOUSTON, Feb. 11, 2022 /PRNewswire/ -- Welcome Group, the single-tenant real estate developer specializing in manufacturing, lab, warehouse and distribution facilities, has expanded its burgeoning portfolio by acquiring five properties, including two highly-visible projects in Sugar Land and Pearland and its first in South Carolina, part of the Houston-based firm's expansion into the southeast U.S.

The company's Houston acquisitions include a 97,108 square-foot manufacturing/office facility located in the Sugar Land Business Park at 522 Gillingham Lane. Situated on 7.3 acres, the building is occupied by Cubic ITS, Inc. whose Trafficware technology promotes green initiatives by optimizing the flow of motorist and pedestrian traffic. The property was built in 2009 by Houston-based KDW.

The firm also purchased a 46,000 square-foot industrial facility at 14740 Kirby Drive in Pearland where tenant Cardiovascular Systems, Inc. develops and commercializes innovative interventional treatment systems for patients with heart disease. Linbeck built the space, located on an 8.7-acre tract near the intersection of Beltway 8 and State Highway 288, in 2010.

Welcome Group's second and third San Antonio acquisitions include an 80,431 square-foot office/lab space at 6203 Farinon Drive, where tenant KCI USA, Inc. develops innovative healing solutions. The firm also acquired a 43,860 square-foot office/lab facility at 6603 First Park Ten Boulevard.

While Welcome Group grows its Texas portfolio, it also is focused on acquiring existing occupied properties in high-growth markets throughout the southeast U.S., according to Welcome Wilson, Jr., president and CEO of Welcome Group.

The firm has acquired its first property in South Carolina, a 201,500 square-foot facility roughly 30 miles north of Charleston in the town of Moncks Corner. Sea Fox Boat Company occupies the space to develop and build a variety of hand-crafted saltwater boats. Earlier this year, Welcome Group acquired two commercial properties in Georgia, its first purchases outside Texas.

"We're looking to expand our footprint in North Carolina, South Carolina and Georgia, in particular," says Wilson. "That's really going to set the table for us in terms of long-term growth."

Welcome Group now owns a diverse portfolio of over 130 industrial properties spanning more than six million square feet. Tenants range from Fortune 500 companies to emerging entrepreneurial ventures in manufacturing, healthcare, energy, technology, warehouse and distribution, and other operations.

Financing for the firm's two Houston acquisition was provided by Veritex Community Bank.

The acquisition of 522 Gillingham Lane was coordinated by Brad Berry, vice president and design build director for Welcome Realty Advisors.

Welcome Group was represented in the acquisition of 14740 Kirby Drive in Pearland by Pamela Webster, acquisitions/design build specialist for Welcome Group, and Jim Gibson with Stan Johnson Co. The seller was represented by Albert Muller with Stan Johnson Co.

About Welcome Group
Welcome Group is a leader in the development and ownership of single-tenant industrial facilities for some of the world's most respected names in business and currently owns over 6 million square-feet in Texas and the southeast U.S. The company also offers build-to-suit and design-build services for interested firms and is actively seeking direct purchase and sale-leaseback opportunities throughout Texas and the southeast United States. For more information visit welcomegroup.com.

SOURCE Welcome Group