HOUSTON – Amazon will build an 855,000 SF fulfillment center in Hines’ Pinto Business Park at the southwest corner of Interstate 45 North and Beltway 8 in north Houston.
The Harris County commissioners voted Tuesday to provide Amazon with a tax abatement of $180,000 a year for 10 years, as an economic stimulus, according to the Houston Chronicle.
Amazon will spend $136 million to build the Houston facility, which will employ 1,000 people.
The 971-acre Pinto Business Park is being developed through a joint venture between Hines, Pinto Real Estate Development, Inc., and Kohlberg Kravis Roberts & Company, LP, and is the largest, fully entitled, contiguous tract of land located inside Beltway 8 and outside the 500-year floodplain. Pinto Real Estate Development is a wholly owned subsidiary of Cockrell Interests LLC.
When fully built out, the Pinto park represents an opportunity of 8,000,000 SF and a potential investment of more than $900 million.
Houston-based Hines, founded in 1957, has a presence in 182 cities in 20 countries.
June 29, 2016