HOUSTON – (Realty News Report) – IDV has signed a full-building, 603,389-SF lease with a national third-party logistics provider at South Belt Central Business Park, located along Beltway 8 near Highway 288.
The South Belt/Beltway 8 industrial market has exploded with new construction in recent years with numerous warehouse being built from the Southwest Freeway on the west to Telephone Road on the east.
Jim Foreman and Brooke Forrest of Cushman & Wakefield represented the landlord, a special purpose entity of IDV LLC, in the transaction, and Stephen Schneidau and Chuck Berger of Cushman & Wakefield represented the tenant.
“South Belt Central was the perfect fit for this tenant with convenient access to both the southwest and southeast submarkets, as well as easy access to Beltway 8,” said Tyndall Yaap, Principal and co-founder of IDV.
The new building is located about a mile east of a new Amazon distribution facility.
The new IDV building is part of the 214-acre South Belt Central Business Park, where construction began about two years ago. The developer, IDV, (Houston-based Investment & Development Ventures, LLC ) expects the business park to have 3.5 million SF of warehouse development upon completion.
The new building, located at 4902 South Belt Central Dr., is slated for delivery in January 2023.
Features include 36’ clear heights, 360 auto parking spaces, 196 trailer parking spaces, ESFR sprinklers, Beltway 8 frontage, and 4,500 SF of office space.
IDV’s current construction pipeline consists of 14 million square feet across seven different markets.
The Houston industrial market has been strong with significant construction and investment activity.
Dec. 13, 2022 Realty News Report Copyright 2022.
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File: IDV Signs Huge Lease of Houston Warehouse
Image: Courtesy IDV, Cushman & Wakefield