HOUSTON – (Realty News Report) – Adkisson Group acquired 225 acres near Baytown for the development of a business park on the east side of Houston.
The property, called Bay 10 Business Park, is located on the west side of Grand Parkway just south of I-10 East and is zoned for light industrial and heavy industrial uses. It’s currently home to SAFE Chemicals, Zachary Corporation and National Tube. In addition to offering sites for sale or build to suit, Adkisson Group Inc. will begin permitting and construction on several 10,000 to 30,000 SF freestanding buildings that will offer crane capabilities and acreage for outside storage.
Robert McGee, Thomas Leger, Chase Cribbs and Josh Cheatham of Lee & Associates – Houston represented Adkisson group on the sale and will take on the marketing assignment. HFF’s Davis Adams, Rusty Tamlyn, and Trent Agnew represented the seller, Parkside Capital.
“We believe Bay 10 Business Park is poised to benefit from the continued growth on the southeast and east side of Houston. The location along the grand parkway just south of I-10 east provides great access to both the Port of Houston and petrochemical industries,” says Robert McGee, principal at Lee & Associates – Houston. “It is very difficult to find industrial land sites under 10 to 15 acres, in this area, that are already zoned to light industrial or heavy industrial. Currently most of the business parks nearby only cater to larger rail-served sites. We think there is plenty of demand for non-rail served sites as well. At Bay 10, we can accommodate requirements as little as one acre or as much 86 acres.”
Houston’s industrial market is strong with overall vacancy around 5 percent and steady absorption, even while construction is robust. About 60 significant industrial projects are under construction in the Houston area.