HOUSTON – (Realty News Report) – Coca-Cola Co. has announced plans to develop a major bottling facility in the Pinto Business Park, a Hines development in north Houston.
Importantly, the move will free-up prime acreage now occupied by the existing Coca-Cola plant in the Inner Loop of Houston.
Since 1950, Coca Cola Bottling has operated on what is now ultra-prime land – across the street from the affluent West University Place community at 2800 Bissonnet, a few blocks west of Kirby Drive.
The hard-corner corner property, located at the northwest corner of Bissonnet and Wakeforest Avenue, is well suited to multifamily or mixed-use. The sales price will be significant when site is sold in a couple of years, if the deal proceeds as expected.
The Coca-Cola site on Bissonnet Street is one of the most potent redevelopment sites in the state of Texas.
The 971-acre Pinto Business Park was developed a few years ago by Hines near the southwest corner of Interstate 45 and Beltway 8.
Demand for land in Pinto has been strong, resulting the sale of hundreds of acres since Hines opened the business park, Tom Lynch, senior vice president of CBRE, said last summer when Realty News Report first reported the Coca-Cola move.
The new 1 million-SF Coke plant , slated to open in 2020, will be built on a 140-acre site.