HOUSTON – (Realty News Report) – A 35-acre site in North Houston has sold to Davis Commercial Development for a 560,000-SF distribution project.
Davis Commercial Development will design and construct Cypress Preserve Logistics Center, a new industrial park encompassing two cross dock buildings and two single-tenant buildings. The park is located on Cypress Slough Drive near the intersection of the I-45 Freeway and FM 1960 in Houston, Texas.
Walker B. Barnett and Ryan Byrd of Colliers International will be representing Davis Commercial Development in the marketing and leasing for the park.
“Cypress Preserve Logistics Center is perfect for tenants requiring accessibility to the entire Houston and national markets due to easy access from both I-45 or the Hardy Toll Road; dual highway access will allow faster product-flow in and out of the park. We are developing to Class A institutional standards in the north market located at the mid-point of Beltway 8 and the Grand Parkway,” says Jeff Stringer of Davis Commercial Development. “In addition, we are in the shadow of George Bush Intercontinental Airport and all of the new and existing residential roof-tops on the north side of Houston.”
The buildings will feature attractive architecture at the entrances utilizing a modern design with multi-leveled canopies and an extensive use of energy efficient glass. The ground breaking for Cypress Preserve Logistics Center will take place in January 2019 and the property is expected to be delivered in the fourth quarter 2019.
“The buildings are being designed and built to the most modern technological standards demanded by today’s logistics and e-commerce providers,” says Jeffrey Davis of Davis Commercial Development.
“Modern distributors and logistic providers were kept in mind when designing the buildings to best fit their needs,” says Walker Barnett, Principal & Director at Colliers International. “The park has flexible spaces sized from 64,500 to 258,000 SF with 32’ clear heights.”
According to Colliers Q3 2018 International Houston Industrial Report, Houston’s industrial market vacancy stands at 5.7%. Houston’s net absorption jumped significantly over the quarter, increasing 157% from 700,000 SF to 1,800,00M SF. A vast majority of the leasing activity can be attributed to an expanding population driven by job growth which increases consumer spending and demand for logistics and distribution hubs.
Todd Edmonds and Michelle Soderberg with Colliers International represented the land seller, Hendricks Interests LLC.