Logistics Property Developing 1.7 Million SF in Southwest Market
HOUSTON – (Realty News Report) – Chicago-based Logistics Property Co. is developing CityPark Logistics Center, a 97-acre business park that will have 1.7 million SF in seven buildings in Missouri City on the southwest side of the Houston area.
Phase I is currently under construction and scheduled for completion in the fourth quarter of 2020. Located near Beltway 8, Phase 1 includes a 78,527-SF warehouse built in a rear load dock configuration; along with one 176,319 SF cross-docked facility and one 199,170 SF cross-docked facility.
Phases II and III will offer larger cross-docked facilities along with larger build-to-suit opportunities.
Situated near the intersection of the Sam Houston Tollway (Beltway 8) and Highway 90, CityPark borders both Harris County and Fort Bend County. CityPark offers over one-third of a mile of Beltway 8 frontage near Cravens Road.
“We’re focused on critically located infill sites,” said Robert Wheless, LPC’s Senior Vice President – South Region. “We’ve carefully studied tenant profiles and intentionally created a master plan and building designs that are specifically tailored to this submarket.”
“The City of Missouri City is committed to the attraction of capital investment, quality development and new jobs,” said Joe Esch, Economic Development Director, City of Missouri City.
LPC’s partners Method Architecture, FCL Builders and Kimley-Horn have focused on onsite and offsite improvements to make the site ready. JLL’s Houston industrial team led by Senior Vice President, John Talhelm, and Vice President, Kevin Erck, are leasing the property.
“We continue to see robust industrial demand and a need for modern, logistics-oriented space in the greater Houston area,” said Talhelm.
LPC is targeting leading industrial markets across the US with strong population demographics and significant in-place infrastructure.
LPC currently manages properties in key logistics markets including Dallas, Houston, Chicago and Seattle-Tacoma with an estimated end-value of over $1.25 billion. Headquartered in Chicago, LPC has offices in Atlanta, Dallas, Houston, Los Angeles and Seattle.
March 2, 2020 Realty News Report Copyright 2020