HOUSTON – (Realty News Report)- NorthPoint Development acquired 190 acres on the east side of Houston where it will develop a 2.5 million SF industrial park.
Colliers International’s Blake Gibson and Ryan Byrd represented NorthPoint in the deal and will market the project for lease. The land seller, Sowell Equities-Forestwood LP, was represented by Michael Keegan of NAI Partners.
The seven-building development, called NorthPoint 90 Logistics Center, will be located between Beltway 8 and Loop 610, north of the Houston Ship Channel.
“We couldn’t be happier with the results of this sale,” said Sowell Equities’ Jamie Cornelius. “Michael did an outstanding job marketing this property for us—what started as a ±337-acre raw land site became a saleable investment opportunity thanks to Michael Keegan and NAI Partners’ efforts in parceling it off and selling the sites to highly qualified users and developers.”
Houston is experiencing record levels of industrial construction with a surge in distribution space and activity linked to e-commerce.