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Avera Buys Acreage for Large Industrial Development Near the Port of Houston

 

HOUSTON – Avera Cos., a commercial real estate development, construction and investment firm, has acquired 41.5 acres to develop Bayport Industrial Park near the Port of Houston.

Avera will develop three buildings with a total of 738,610 SF on the property, which is within the Bayport North Industrial Park, on the east side of Underwood Road, just south of Fairmont Parkway.

“Bayport Industrial Park is strategically located at the epicenter of the southeast industrial market, and will be advantageous for a variety of users due to its unparalleled flexibility, and close proximity to both Barbours Cut and Bayport container terminals. Bayport offers an unprecedented opportunity in a market where quality land sites are extremely scarce,” said Trey Odom, President and CEO at Avera Companies.

Building 1 will be a 176,655 SF industrial property, Building 2 is planned to contain 369,755 SF and it will be rail-served. Building 3 will be1 92,200 SF. All buildings feature a 32 feet clear height and a 130-foot truck court.

The southeast Houston/Port of Houston area industrial has a 4.2 percent vacancy rate according to CBRE.

“Houston’s global trade—whether import or export—requires different types of logistics space with varying attributes. For example, resins and plastics, accounting for 29 percent of all 2015 Port of Houston exports, require a more intensive and lengthier use of industrial space supported by a skilled labor force,” CBRE said in a recent research report.

June 8, 2016

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