Blue Vista Acquires Industrial Business Park Near Houston, Texas

CHICAGO--(BUSINESS WIRE)--Blue Vista Capital Management (“Blue Vista”) today announced the close of its acquisition of the Techniplex Business Center a two-building, 78,116 square foot flex industrial site located outside of Houston, Texas in partnership with Rycore Capital, a Houston-based real estate operator. The acquisition represents the first investment in a programmatic joint venture with Rycore Capital to identify value-add flex light industrial opportunities in the Southern U.S.

The Techniplex Business Center is located 20 miles from downtown Houston and consists of two one-story buildings with flex industrial space. One of the buildings offers 18’ clear height and dock high loading and industrial space; the second building offers laboratory, R&D and industrial space, as well as 12’ clear height and grade-level doors. The site is located in Houston’s Northwest flex industrial submarket, one of the strongest markets in the area with limited supply and direct access to major area thoroughfares including I-10, Highway 6 and Beltway 7. The majority of the square footage is currently triple net leased to multiple tenants.

“Blue Vista has a long history of investing in smaller-sized industrial assets in infill areas, typically under 150,000 square feet in size, where we believe new construction is constrained, inventory is limited, and demand is high. Houston’s Northwest Corridor submarket has a limited amount of true flex industrial space with multiple suite offerings that are suitable for smaller and/or non-institutional tenants,” said Jack Day, Vice President, Acquisitions at Blue Vista.

“We are pleased to work with Rycore to execute our proven value-add strategies to offer local tenants the opportunity to lease the Techniplex Business Center space at reasonable market rents that suits their business needs. We look forward to continuing to identify value add industrial opportunities through the joint venture with Rycore, which has already identified a strong pipeline of opportunities,” said Brandon Goetzman, Managing Principal and Co-Head of Equity at Blue Vista.

ABOUT BLUE VISTA

Blue Vista is a leading investment management firm focused on helping investors maximize returns through best-in-class real estate equity and credit strategies across the risk-return spectrum. Blue Vista offers investors the benefits of a vertically integrated platform, complementary strategies managed by experienced teams, and deep expertise as an owner, operator and lender across all property types and various markets in the U.S. and Canada. Since its inception in 2002, the firm has invested over $13.0 billion in total capitalization, with the goal of challenging the status quo, setting high standards and bringing a relationship-based, client-focused approach to real estate investing. For more information, please visit https://bluevistallc.com/.