HOUSTON – Hines, one of the oldest and most respected development firms in Houston, has launched a 1 million square-foot industrial park, injecting even more momentum in the new south side hot zone for warehouse development.
Hines’ 75-acre Beltway Southwest Business Park is located at the northeast corner of Beltway 8 and Fort Bend Toll Road.
A number of developers, including Cresa, Trammell Crow, Stream Realty and GSL Welcome, have started new industrial projects south of Houston. There is an abundance of vacant land between Highway 288 and U.S. 59 along the Sam Houston Tollway and Highway 90. Some of this land is less than a five-minute drive from the Astrodome.
With a relatively close-in location, this south region offers an alternative to the northwest side, which has been a leader in industrial development for decades. But northwest development sites are hard to find and land costs have escalated.
The first phase of the Hines project, a 350,000-square-foot building, will be complete in early 2016. Leasing representatives are Jim Foreman, Beau Kaleel and Allison Hall of Cushman & Wakefield.
The development of Phase I, which consists of more than 350,000 square feet, is underway with construction set to begin in July of 2015. Phase I will include a 240,000-square-foot cross dock building featuring 32’ clear height and 52’ by 47’ column spacing as well as a 110,000-square-foot rear load building featuring 28’ clear height and 52’ by 45’ column spacing.
Designed by Architects Plus, the buildings will feature a sleek, distinctive design while also providing tenants with functional and efficient floor space, all within a controlled business park setting.
“Beltway Southwest Business Park is a natural progression for our team, and builds on the success we have experienced with Pinto Business Park in north Houston,” said Hines Director Charlie Meyer. “Many of the tenants we have done business with in north Houston have additional locations or have expressed a desire to have another location in the southwest part of town. We feel that our reputation for providing highly functional, architecturally distinctive and flexible buildings at extremely competitive rates fills a void within the submarket, and we feel fortunate to control a large, well-located land site in a submarket that is known for its high barriers to entry.”