Trammell Crow Company and Artis Reit Acquire 127 Acres in Missouri City, Texas

Class A Industrial Project Could Accommodate over 1.75 Million Square Feet

HOUSTON, TX – April 07, 2015 - Trammell Crow Company and partner Artis REIT announce the acquisition and assemblage of two land tracts totaling 127 acres in Missouri City, Fort Bend County, TX. The partnership plans to develop a new, Class A industrial business park called Park 8Ninety, which could accommodate over 1.75 million square feet of build-to-suit or speculative office/warehouse, distribution and manufacturing space. Construction on the first phase of Park 8Ninety, which will include three buildings totaling over 330,000 square feet of industrial space, is expected to begin in Summer 2015 with completion scheduled for Spring 2016.

“This is an incredible opportunity for Artis REIT and Trammell Crow Company to develop a new generation, Class A industrial park in Houston’s thriving Southwest Industrial Submarket. We are optimistic about the growth potential, both in Fort Bend County and in the Houston area, and are excited about this opportunity to partner with Trammell Crow Company and increase our presence in Texas and in the United States,” said Armin Martens, President & CEO of Artis REIT.

The property is located at the south corner of U.S. Highway 90A and Beltway 8 (Sam Houston Parkway) in Missouri City, approximately 20 minutes southwest of downtown Houston. The property’s unique position along two major highways will offer tenants swift access to major thoroughfares throughout the entire Houston metro. 

“Frontage on Beltway 8 and Highway 90A, and the opportunity to develop another large, multi-phase business park in Missouri City, attracted us to this site,” said Jeremy Garner, Principal with Trammell Crow Company’s Houston Business Unit. “We are pleased to partner with Artis to deliver another state-of-the art industrial park to the area.”
 
Ellis Management, represented by Barney Van Huss, was the seller of a 75-acre parcel, and a local investment group represented by Ron Dagley with The Betz Companies was the seller of an adjacent 52-acre parcel.

Bo Pettit and Alexander Reilly with Boyd Commercial LLC/CORFAC International represented Trammell Crow Company and Artis REIT in the acquisition. Pettit and Reilly will also be responsible for marketing Park 8Ninety. 

About Artis REIT
Artis is a diversified Canadian real estate investment trust investing in office, industrial and retail properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in Canada and the United States, with a major focus on Western Canada. As of today's date, Artis' commercial property comprises approximately 25.8 million square feet of leasable area.

At December 31, 2014, actual year-to-date Property Net Operating Income ("Property NOI") by asset class was approximately 24.5% retail, 51.9% office and 23.6% industrial. Property NOI by geographical region was approximately 8.1% in British Columbia, 39.0% in Alberta, 5.6% in Saskatchewan, 12.3% in Manitoba, 12.1% in Ontario and 22.9% in the U.S.

Property NOI is a non-GAAP measure. Artis calculates Property NOI as revenues, measured in accordance with International Financial Reporting Standards, less property operating expenses such as taxes, utilities, repairs and maintenance, and does not include charges for interest and amortization or income from joint arrangements accounted for as equity investments.

About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of December 31, 2014, Trammell Crow Company had $5.5 billion of projects in process and $4.0 billion in its pipeline.

Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The Company serves users of and investors in office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.

Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). For more information visit www.TrammellCrow.com.
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