Property details
pasadena, texas
Flowserve
Investment type
Net Lease
Asset Class
Industrial
Ownership Structure
Delaware Statutory Trust (DST)
Year Acquired
2020
Investment Summary
The Property consists of a 110,102 square foot, two-story, light manufacturing building situated on an 8.1-acre parcel at 4015 Flowserve Way in Pasadena (Houston), Texas. Originally constructed in 2016, the Property was built pursuant to Flowserve’s specifications and houses its pumps manufacturing and servicing sector.
The Property contains 85,580 square feet of shop/manufacturing space, and two floors of office space that comprise the remaining approximately 23% of the total square footage. The building is 100% climate-controlled and features a 35’9” clear height, a manufacturing area, and grade-level loading capability. The manufacturing floor includes stations for hydro-cleaning and sand blasting machinery sent in for repair, a painting booth, a clean room for dust and particle control, a training area, stations for specialized calibration and repair, and a 30 foot pit with hydraulic lifts to enable Flowserve technicians to work on large equipment in a vertical position.
Syndicated structured its acquisition as a Delaware Statutory Trust (DST) to accommodate investors completing a Section 1031 Exchange.
