HOUSTON – (Realty News Report) – Stream Realty Partners reports it has closed four lease transactions totaling over 212,800 SF at Waypoint Business Park.
The leasing activity demonstrates the rapidly growing strength of the industrial market in Southwest Houston and Missouri City where warehouse construction has soared in recent years.
In the third and fourth quarters of 2020, the Stream industrial team of Matteson Hamilton, Justin Robinson and Woody Hillyer representedownership, a joint venture of Houston-based 4M Investments and New York-based Clarion Partners, LLC, in four leases.
“With the site’s unparalleled location in the heart of Houston’s Southwest Industrial market, combined with the unprecedented high demand it is experiencing, we are confident this momentum will continue into 2021,” said Tripp Rice, Partner at 4M Investments.
The recent tenant signings included Advanced Wheel Sales’ 65,520-SF lease in Building 2; Edvivi Lighting’s 52,210-SF lease in Building 3; Rasa Floors’ 25,169-SF lease in Building 4; and Texas Plumbing Supply’s 69,865-SF lease in Building 2. Delivered in the first quarter of 2020, the project consists of four buildings totaling over 700,000 SF with the potential for a second phase of construction in the near future.
“There’s no denying that demand remains strong in the Southwest Houston Industrial market, and we expect this to continue as we enter 2021,” said Matteson Hamilton, Partner and Senior Managing Director in Stream’s Houston office. “From our perspective, Southwest Houston has been one of the most active submarkets this year. We are confident that despite new supply that has recently delivered in the submarket, Waypoint will continue to out-perform and increase occupancy in the near future.”
The Waypoint park encompasses 60 acres in southwest Houston’s Missouri City, with ingress/egress to Beltway 8 and Highway 90, and S Gessner Road via Cravens Road. In recent years, this area of Houston has become known as a primary distribution hub for logistics and last-mile companies due to its immediate access to major highways and distribution centers. Stream Realty reports 496,000 SF remains available for lease at Waypoint Business Park.
In other Southwest activity, Trammell Crow Co. and joint venture partner Artis REIT, a Canadian-based real estate investment trust, just broke ground on a 676,860-SF speculative industrial project in the Park 8Ninety development, 129-acre business park near the intersection of Beltway 8 and US 90A.
After being overlooked for decades, southern sector of Beltway 8 has exploded with industrial development in the last four or five years. With access to US 90A, the Southwest Freeway, Highway 288, the Fort Bend Toll Road and other highways, the area offers logistics options. Hines, Welcome Wilson, Clay Development and other major developers have jumped into the South Belt market with spec industrial and build-to-suits.
Amazon recently announced plans for a 1 million SF in the Missouri City are at Highway 6 and the Fort Bend Toll Road.
Dec. 18, 2020 Realty News Report Copyright 2020
File: Stream Realty Reports Strong Leasing
File: (2) 4M Investments. Clarion Partners. Stream Realty Reports Strong Leasing in Southwest Houston. Beltway 8. Missouri City.