Mirae Asset Global Investments, based in Seoul, South Korea, has purchased the headquarters campus of Academy Sports + Outdoors in the West Houston, TX suburb of Katy. Phoenix-based Tratt Properties sold the 1.5 million-square-foot campus, which is triple-net leased to Academy Sports on a long-term lease, for $190 million.
The 93-acre campus includes 1.2 million square feet of warehouse space, 250,000 square feet of flexible office space and mezzanine space totaling approximately 800,000 square feet. Located at 1800 N. Mason Road, the site has immediate access to Interstate 10 and Texas Highway 99, encircling Houston.
“From a logistics perspective, this property is exceptionally well-located, with access to highways in all directions,” said Ken Hedrick, executive managing director of Newmark. “The scarcity and increasing land value in the West Houston area further enhance the property’s value.”
Mirae Asset Global Investments is active in 40 countries across 12 different industries, including commercial real estate. In addition to Academy Sports’ headquarters, the firm is the landlord for State Farm Insurance at its East Coast office hub in Atlanta, GA, the U.S. Federal Reserve in Washington, D.C., and Amazon in Seattle, WA.
Photo courtesy Newmark
