HOUSTON – (Realty News Report) – Panattoni Development Company and its equity partner, MetLife Investment Management, have begun construction on a new 642,994 SF warehouse at 10575 Red Bluff Road in Pasadena, near the Port of Houston.
JLL’s Richard Quarles, Jarret Venghaus and Mark Nicholas will lease the facility on behalf of the partnership.
Construction on the building, named Bayport South, is expected to be complete in the first quarter of 2020.
The cross-dock facility will be foreign-trade-zone-capable and is well-positioned in southeast Houston with proximity to both Bayport Container Terminal three miles away and Barbours Cut Container Terminal approximately nine miles away.
“Bayport South represents an outstanding opportunity to continue our objective to develop strategically located projects in Houston’s key industrial submarkets,” said Todd King, partner at Panattoni Development. “The nearby Port of Houston container facilities, the Ship Channel, and the petrochemical complex are all critical national infrastructure components that make this area a great long-term investment.”
Bayport South will feature 36’ clear height and more than 330 car parking spaces.
Houston’s Southeast Industrial Submarket, where Bayport South is located, continues to be in high demand, driven by strong net absorption and construction activity and low vacancy, according to JLL research.
Aug. 14, 2019 Realty News Report Copyright 2019
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