Clovis Crossing at 1603 Clovis Barker Road in San Marcos, Texas — Courtesy: JLL
By Joshua Burd
Denholtz Properties has secured more than $26 million in acquisition financing for nearly 214,000 square feet of high-end industrial space in Texas, in a deal arranged by JLL.
According to the debt placement team, Palladius Capital Management provided the loan in connection with the two-building Clovis Barker Logistic Park in San Marcos. Red Bank-based Denholtz announced last month that it purchased the newly built, 213,817-square-foot property at 1603 Clovis Barker Road, roughly 30 miles from both Austin and San Antonio, touting its entrance to another new market and the continued expansion of its national portfolio.
JLL senior managing directors Michael Klein and Jon Mikula, Managing Director Michael Johnson and Analyst John Beeler sourced the $26.121 million loan on Denholtz’s behalf. The firm’s capital markets team also brokered the sale.
“Denholtz Properties’ acquisition of Clovis Barker Logistic Park represented an excellent opportunity to take advantage of a rapidly growing submarket in San Marcos while others are hanging back trying to figure out the market,” Johnson said. “Amidst current market volatility, it was imperative for us to work with a financing partner who could provide certainty of execution. Palladius Capital Management stepped in as an exceptional partner, delivering the necessary stability and confidence to navigate the current market conditions.”
In a news release, JLL noted that Clovis Barker Logistic Park has 32-foot clear ceiling heights and ample car parking among the two properties. The property’s shallow-bay design is expected to attract small business operators with average unit sizes of 40,000 square feet.
