HOUSTON – Houston’s industrial market delivered 5.6 million square feet of new inventory in the first half of 2014, according to Colliers Houston Industrial Market Research & Forecast Report. Houston’s industrial market remains one of the healthiest U.S. industrial markets; its continued expansion sustained primarily due to the growth in the oil and gas industry, Colliers reported. The forecast added that Texas is expected to produce more oil and gas than all but one of the OPEC nations in 2014 due to the booming Eagle Ford Shale and Permian Basin, and Houston’s industrial real estate market will benefit from that rapidly increasing production. The Houston metropolitan area added 93,300 jobs between May 2013 and May 2014, an annual increase of 3.3 percent over the prior year’s job growth, the forecast report says.
HOUSTON- The foundation has been poured and completed for 225 RailPort, a 600,004-square-foot distribution facility at the Port of Houston in Pasadena, according the developer, Avera, a commercial development, construction and investment firm. The development, at Beltway 8 and Highway 225, is a build-to-suit facility for Frontier Logistics, and represents the largest build-to-suit lease in the history of Houston’s port, company officials said. Estimated completion is the first quarter 2015.
DALLAS-The development of an 87-acre industrial park in South Dallas is moving forward. The industrial park will be along Interstate 20 and Grady Niblo Road, said Crow Holdings Capital Partners, LLC, which announced the development of Mountain Creek. The development will include two buildings totaling 1.3 million square feet of new distribution and warehouse space. Phase I of the project is slated to break ground in the third quarter of this calendar year and will include the development of one building totaling 630,000 square feet. “Mountain Creek is a true industrial park that can cater to both national and regional users,” said Ben Doherty of Crow Holdings Capital Partners.
OAK BROOK, Ill. – CenterPoint Properties has announced the acquisition of a 212,961-square-foot facility at 3240 South Loop East in Houston. Situated on 8.9 acres, the property is served with rail, with service from Union Pacific, 25-miles from the Port of Houston. The facility is leased to Gulf Winds International, a third party logistics commodity shipper of coffee and rice. The name of the seller of the property was not immediately available. The facility allows multiple truck trips to serve the shipping needs of the inbound and outbound commodities Gulf Winds handles.
HOUSTON – Union Crossing Development, LP, has purchased an additional 104 acres of land at Union Crossing Industrial Park, at Telge Road and Northwest Lake Drive in northwest Houston, CBRE has announced. Wyman Gordon Forgings sold the property for an undisclosed price. Union Crossing Development previously purchased 26 acres on the site. The property development will be managed by American Commercial Contractors, LLC. The project is anticipated for completion in summer 2015, but nearly 40 acres are shovel-ready for immediate users’ needs. The tract is served by Union Pacific railroad and includes all utilities for light to heavy industrial projects. Pittman, along with CBRE’s Houston office, brokered the transaction on behalf of the buyer.
HOUSTON- A 39,000-square-foot industrial building has been leased in northwest Houston’s Intrepid Business Park, at 5727 Brittmoore Road near the Sam Houston Tollway. NAI Houston represented the landlord, TREP Brittmoore South, LLC, in the recently completed spec building; Proximity Real Estate Advisors represented the tenant, Premium Oilfield Technologies, LLC.
HOUSTON – JLL has announced the development of Angleton 288 Industrial Park, a 35-acre industrial park off State Highway 288 at County Road 341 in Angleton. Angleton City Council approved the development plans, which include 18,000-square-foot and 24,000-square-foot, crane-ready manufacturing and distribution buildings set for occupancy in first quarter 2015. “It will make a world of difference for the city; I have no doubt about that,” Angleton Mayor Randy Rhyne said. “It’s something new that we haven’t actually gotten into before.” JLL will market the new development. JLL Vice President Cliff West added: “The park will be a $15 million to $18 million endeavor.”
HOUSTON – Nelson Commercial Properties recently started construction on its Greens Road Business Center project. The development will be comprised of office and warehouse buildings totaling 56,000 square feet on approximately 6 acres near the southwest corner of U.S. Highway 59 and Greens Road. The buildings, which will be offered for sale or lease will be 10,000 square feet, 13,500 square feet, 15,000 square feet and 17,500 square feet, and will have ingress and egress from the nearby U.S. Highway 59 and Sam Houston Tollway, according to information provided by the Houston-based Nelson Commercial Properties.