HOUSTON – (Realty News Report) – The new Stafford Grove Industrial Park, a 352,000-SF in Houston’s southwest market, has reached 85 percent occupancy.
The spec project, completed in January 2017, is owned by Crow Holdings Industrial.
Notable tenants that have signed leases at Stafford Grove include Jackson Supply, Tire Centers, Mester Lighting Corporation, Matrix Metals, QRC Valve Distributors, Chaoda Supply and 700 Valve Supply.
“Activity has been off the charts at Stafford Grove and we continue to see wave after wave of deals in the market interested in the project,” said Matteson Hamilton, Managing Director at Stream Realty, which handles leasing on behalf of the landlord. “With our remaining vacancy of 20,450 SF in Building B and 34,100 SF in Building A, we expect activity to continue to be very strong as both options fall into the sweet spot of demand seen in the submarket.”
Stream notes the southwest Houston industrial submarket has an overall vacancy rate of 5.8 percent at the end of the third quarter of 2017, and expects this number to dip before the end of the year.
Stafford Grove is comprised of three buildings with rear-load, front-load and cross-dock capabilities. Stafford Grove is Crow Holdings Industrial’s second development in Houston – the first was Apex Distribution Center in northwest Houston, which sold earlier this year to WPT Industrial REIT.
“Stafford is a business-friendly environment and we couldn’t be more pleased with the overall success of the development thus far,” said Will Mundinger, Senior Managing Director at Crow Holdings Industrial. “We are big believers in the Houston industrial market and look forward to finding our next development project, hopefully sooner rather than later.”