HOUSTON – (Realty News Report) – Stream Realty Partners has acquired 300 acres on Interstate 10 west of Houston where it will develop the Empire West Business Park.
A 1 million square-foot speculative development, consisting of three distribution buildings, will be started soon as the Phase 1 of the Empire West project.
Secondly, Stream will pursue build-to-suit opportunities and lastly, sell land to corporate end users.
“Based on years of research in this area, coupled with the abundant user demand in west Houston, we feel now is the time to strike and put this land into production,” said Justin Robinson, Partner at Stream.
The property, with a location in the City of Brookshire and Waller County, creates eligibility for aggressive tax abatements. Empire West is uniquely situated with 5,000 feet of Interstate 10 and Highway 90 frontage with dedicated exits to Woods Road. The site is located outside the flood plain, has access to quality utilities, according to Stream, a national real estate services, development, and investment company with a long-term presence in the Houston market
Empire West Business Park is located near a massive Amazon distribution facility. This west side location is in a growing stretch of significant distribution buildings occupied by Rooms To Go, Goya Foods, Igloo, Bel Furniture and many more.
Interstate 10 sites in the western part of the Greater Houston area have a growing appeal as distribution hubs because of their proximity to Austin, San Antonio and South Texas.
“Empire West’s location is situated perfectly to service the consumptive demand created by greater Houston’s 7 million residents, which is the main driver for the local distribution market,” Matteson Hamilton, Partner at Stream. “Additionally, this site provides a great ‘head start’ for users looking to expand their range and distribute regionally to Austin, San Antonio, and south Texas.”
The Simpkins Group, a Houston-based commercial real estate development and investment firm, originally initiated the overall development plan, and given their historical knowledge of the site, will be Stream’s partner on the land development and infrastructure improvements.
Jeremy Lumbreras with Stream will support the leasing efforts of Empire West.
Stream leases and manages over 30 million SF of industrial product in Houston and has developed 6 million SF of industrial product locally over the last 10 years.
Founded in1996, Stream has grown to a staff of more than 850 real estate professionals with regional offices in Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Fort Worth, Greater Los Angeles, Houston, San Antonio, San Diego, and Washington, D.C.
Nov. 21, 2019 Realty News Report. Copyright 2019