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Vigavi Realty Finds Niche for Free-Standing Industrial Buildings Near Port of Houston

The HydroTex building was recently completed near the Port of Houston.

HOUSTON – Vigavi Realty will break ground on two speculative industrial buildings in Pasadena, meeting a demand for freestanding industrial properties in southeast Houston, JLL reports.

The Vigavi firm just completed a 36,000-SF design build project at Fairmont Industrial Center, 11802 Fairmont Parkway in La Porte. HydroTex, a Chicago-based pump systems and engineering services firm, owns and occupies the freestanding manufacturing building.

JLL’s Richard Quarles and Mark Nicholas negotiated the terms of the land sale on behalf of the seller, Vigavi Realty. Lee & Associates’ Preston Yaggi and Stephen Kuper represented HydroTex in the transaction. Architect Terry Kennedy, of Munson Kennedy Partnership, and Vigavi Realty managed the construction of the HydroTex building.

 The HydroTex building at Fairmont Industrial Center is indicative of demand in the southeast. As the result of strong levels of activity at Port Houston and the strength of the downstream sector, the submarket has experienced heightened demand for both large distribution facilities and freestanding manufacturing facilities.

According to JLL research, the southeast recorded 864,463 SF of deals signed in the second quarter of 2017 and approximately 2.3 million square feet of positive net absorption year to date. Strong leasing activity continues to drive demand for new product. The submarket’s 1.1 million SF of deliveries accounted for 93.2 percent of the metro’s industrial completions during the second quarter.

 In response to this demand, Vigavi will soon break ground on the two speculative buildings at Bay Oaks Business Park, at the corner of Genoa Red Bluff Road and Bay Oaks Drive in Pasadena, Texas. The buildings will be 20,000-SF, tilt-wall structures with crane capacity. The buildings are expected to deliver in the first quarter of 2018 and will be marketed by JLL.

“Southeast Houston continues to benefit from its proximity to Port Houston and the nearby petrochemical boom,” said Luis Villarreal, managing director of Vigavi.

Aug. 16, 2017 Realty News Report Copyright 2017

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