Welcome Group Expands Outside of Texas With Two Acquisitions in Georgia

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Apr 22, 2021, 11:06 ET

HOUSTON, April 22, 2021 /PRNewswire/ -- Welcome Group, LLC has turned the old adage to "go west young man" on its head by heading east to acquire two commercial properties in Georgia. These two acquisitions mark Houston-based Welcome Group's first purchases outside the state of Texas.

In recent weeks, the Welcome Group closed on the purchases of:

The Shaw-Almex facility in Decatur, GA. This is a single-tenant industrial/office building that was built in 1984 and expanded upon in 1996. The property totals approximately 135,000 square feet on nearly 15 acres. Welcome Group purchased the 100%-leased Shaw-Almex property for a price of $8,900,000 ($65.66/SF).
The Torsion Group facility in Tucker, GA. This is a single-tenant industrial/office building totaling approximately 49,700 square feet on 3.5 acres. The building is an industrial/office masonry facility with concrete tilt-up perimeter panels that was built in 1989. The purchase price was $3,900,000 ($78.49/SF). The property has five+ years remaining on a ten-year lease to Torsion Group Corp.

With these acquisitions, the Welcome Group now has more than 5.7 million square feet of industrial and office space within its commercial real estate portfolio.

"These first two out-of-state acquisitions mark an important milestone for our company," said Welcome Wilson, Jr., President, and CEO of Welcome Group. "We believe the greater Atlanta area offers tremendous potential for growth. We're also excited about the opportunity to further our expansion across the Southeast and move ever closer to our goal of acquiring 6 million square feet of commercial space by the end of 2021."

Welcome Group made nine additional acquisitions in 2020, comprising approximately 840,000 square feet of industrial warehouse and office space. This included the purchase of 23 acres for future development within Cedar Port Industrial Park in Baytown, TX, one of the largest industrial business parks in the United States.

In early 2020, Welcome Group purchased 14.89 acres of raw land to develop a 66,151 square foot facility for JDR Cable Systems' new U.S. Headquarters in Tomball, TX. The global subsea cable supplier and servicer company's new headquarters will bring additional jobs to the local area. This recently developed project has just been completed; the Grand Opening will be held at the new facility, May 7^th, 2021.

Welcome Group continues to seek additional acquisition and development opportunities across the Southeastern United States. Ted Kakambouras is the Acquisitions Director of Southeast Region and can be contacted at [email protected]. "We are continuing to expand our footprint across the U.S. and are always interested in attractive new acquisition opportunities," said Welcome.

About Welcome Group

Welcome Group owns 116 single-tenant industrial properties in Texas and Georgia, comprising more than 5.7 million square feet. Welcome Group develops and acquires single-tenant commercial, distribution, lab, and manufacturing properties, as well as entire real estate portfolios.

The company offers build-to-suit and design-build services for interested firms. Welcome Group 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