July 11, 2022 - Bluebonnetnews.com -
Liberty Development Partners, a joint effort between Connor Investment Real Estate and Logistics and Development Resources, today announced the acquisition of CMC Railroad and Gulf Inland Logistics Park, a 1,158-acre rail served industrial park. Adjacent to Gulf Inland Logistics Park a recent 200-acre acquisition by the partnership will expand the park’s capacity to serve the increasing demand for rail served industrial sites. Gulf Inland Logistics Park features immediate access to the Grand Parkway and US Highway 90 as well as the two largest US Class I Railroads, the BNSF Railway and the Union Pacific Railroad.
“For many years, Gulf Inland Logistics Park held great unrealized potential. This acquisition and funding will immediately transform the park into a valuable hub for the region’s transportation, industrial and manufacturing industries,” said Paul Connor, Principal of Connor Investment Real Estate, a Houston-based private equity real estate firm focused on risk-mitigated investment strategies in residential, industrial, commercial development and ready-to-develop real estate. “Gulf Inland Logistics Park has the potential to bring in in excess of $1 billion in private investment and as many as 5,000 living wage jobs to Liberty County and surrounding areas. We’re moving forward and already have major improvement projects ready to roll in the first 180 days after closing.”
Trez Capital provided a $66.5 million loan for acquisition of CMC Railroad and the land to facilitate development of the first phase of the project to transform the logistics park into a world-class manufacturing, distribution, storage, and transportation hub for industrial companies. Cushman & Wakefield represented Liberty Development Partners in the acquisition of the property and will lead marketing efforts and provide brokerage and advisory services for Gulf Inland Logistics Park.
“We are pleased to provide financing to Liberty Development Partners for the acquisition of CMC Railroad and Gulf Inland Logistics Park,” said John Sullivan, Vice President of Trez Capital. “The industrial market is one of Houston’s strongest real estate sectors with exponential demand and growth. This property – with its proximity to the Port of Houston, direct access onto the major rail line operated by BNSF and Union Pacific and at the intersection of two major freeways – is strategically positioned to meet current and future industrial demands.”
The strategic location at the intersection of the Grand Parkway and US Highway 90 provides nearby access to Interstate 10, Interstate 59, Interstate 45 and State Highway 146. Gulf Inland Logistics Park is located within 100 miles of five Texas ports – Houston, Beaumont, Port Arthur, Galveston, and Freeport. One of the few dual rail served sites available in the region, Gulf Inland Logistics Park provides an excellent site for logistics, transportation, and manufacturing businesses to locate and grow their business.
“I have been involved with the project since 2008 and I am excited to see the vision for Gulf Inland Logistics Park become a reality. The goal is to create a world class master-planned rail-served industrial and transportation park that benefits not only the city of Dayton and Liberty County, but also the entire region, by attracting global corporations that will bring investment and jobs,” said Marcus Goering, Principal of Logistics and Development Resources. “I am excited about this partnership and the team we have assembled, and we look forward to executing the first phase of the development and bringing new businesses to the site.”
Photo credit: Costar