Academy Sports + Outdoors headquarters in Katy sells for $190 million


Mirae Asset Global Investments of Seoul, South Korea, bought the 1.5 million square foot property at 1800 North Mason Road for $190 million, according to commercial real estate firm Newmark.

The property, situated on over 93 acres, is occupied by Academy under a long-term triple net lease where the tenant pays the property charges. It consists of 1.25 million square feet of industrial warehouse space and 250,000 square feet of office space, according to Newmark.

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A team of brokers from Newmark’s Net Lease Capital Markets Group and International Capital Markets Group represented the seller, Tratt Properties, a Phoenix-based company focused on logistics and e-commerce properties across the United States. Newmark also helped finance the acquisition.

“Industrial assets occupied by high-credit tenants with strong e-commerce activity continue to underpin investor interest in net letting space,” Newmark Executive Managing Director Ken Hedrick said in a statement. a statement. “Logistically, this property is exceptionally well located, with access to highways in all directions. The scarcity and rising value of land in the West Houston area further increases property value.

Mirae made another big purchase in Houston last year with the acquisition of Amazon’s fulfillment center at Pinto Business Park.

Founded in 1938, Academy has more than 250 sporting and outdoor stores and annual sales of nearly $6.8 billion.


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