Chicago Firm Starts Building in Houston

MISSOURI CITY – (Realty News Report) – Logistics Property Co., a Chicago-based firm, is constructing a 151,200-SF warehouse in the 98-acre CityPark Logistics Center where a significant amount of future development is in the pipeline.

In addition, Logistics Property Co., is currently in the design phase of a new 215,000-SF building at CityPark, which is expected to begin speculative construction in 2023 and is currently being marketed for lease.

The logistics park’s final phase will accommodate approximately 600,000-SF with direct frontage and access to Beltway 8 and is currently being marketed as a build-to-suit.

CityPark Logistics Center, located at the corner of Beltway 8 and Highway 90 in Houston’s Southwest Industrial Submarket. The so-called “southwest” market is actually much closer to the center of the Houston metro area, compared to southwestern developments such as First Colony. The Highway 90/Beltway 8 submarket has exploded with new construction in the last five years with major players such s Hines and Clay chiming in with major industrial projects.

Beau Kaleel and Brooke Forrest with Cushman & Wakefield are the leasing representatives for CityPark Logistics Center.

“Missouri City has continued to attract large companies to its supplier base as the population growth of Fort Bend County reaches levels matched with the highest areas in the U.S..” stated Robert Wheless, Senior Vice President – South Region.

Logistics Property Co. has more than 70 employees strategically located across eight offices. Its portfolio currently comprises 52 buildings across 23 million SF in key logistics markets across North America with an estimated end value of more than $3 billion.

Houston is experiencing a boom in the industrial sector. In recent weeks, Hillwood (a Perot company) and Urban Logistics Realty and a real estate fund advised by Crow Holdings Capital have announced industrial construction expansions in Houston.


Oct. 5,, 2022 Realty News Report Copyright 2022

Image courtesy of Powers Brown Architecture

File: Chicago Firm Starts Building in Houston

THE RALPH BIVINS PROJECT PODCAST

LISTEN: THE RALPH BIVINS PROJECT podcast with Christen Vestal of Vigavi Realty

 

Related posts

Houston average home price hits record high in May

Realty News Report

High mortgage rates stifle home ownership

Realty News Report

East River Lands HQ Lease

Realty News Report

Leave a Comment