HOUSTON – (Realty News Report) – Levey Group acquired a 38-acre tract near the intersection of South Sam Houston Parkway and Almeda School Road where the Houston-based firm will develop Levey Logistics Park.
Levey Logistics Park will consist of two industrial buildings, one cross-dock and one rear-load, spanning 650,000 SF.
The land parcel is located within Pearland’s Lower Kirby District, a 1,200-acre mixed-use development in northwest Pearland fronting South Beltway 8 and State Highway 288.
The cross-dock distribution building the company has slated for the park is expected to be the largest spec logistics facility developed inside the City of Pearland’s city limits, according to John Wilson, Levey Group’s director of development and acquisition who spearheaded the land purchase on behalf of the company.
“We are bullish on Houston’s south and southwest submarkets, in-part, because of the success we have enjoyed just west of this tract at the Business Center at Five Corners,” says Wilson. “The two Pearland buildings will be available for single and multi-tenant configurations. That certainly gives us a great deal of flexibility when it comes to attracting tenants to the project.”
Levey Group worked closely with the Pearland Economic Development Corporation and the City of Pearland who the company says were instrumental in providing the infrastructure required for Levey Group to invest in the city and close on this transaction.
Currently in the design phase, construction of the Pearland project is expected to begin in the fourth quarter of 2023.
The dual-building project is one of several developed by Levey Group along Beltway 8, will offer tenants visibility along the Beltway 8 freeway and will provide tenants with immediate access to the Sam Houston Parkway and ultimately to I-10, U.S. 59, the Fort Bend Toll Road, Highway 288 and I-45.
Levey Group’s portfolio of Beltway 8 projects includes East Sam Houston Business Park, a 1 million SF project currently under design and development on East Beltway 8; Sam Houston Business Park, a 286,000 square-foot, four-building development along Beltway 8 in northwest Harris County; and its most recent project, The Business Center at Five Corners, a 546,000-SF development along Beltway 8 in southwest Houston less than two miles west of the new Levey Logistics Park in Pearland.
The Five Corners project, leased by CBRE, was developed by a joint venture of Levey Group, a Houston-based commercial real estate investment and development company, and ANICO Eagle, a member of American National Group, Inc. The development is located on a 44-acre site near Hiram Clarke Road between S. Post Oak and Almeda roads.
The new Five Corners project is actually due south of Williams Tower, a 64-story building (formerly known as Transco Tower) near Loop 610.
In the heart of Houston, Kirby Drive runs through River Oaks and passes by the historic Astrodome, known as the Eighth Wonder of the World before it ends on underdeveloped land south of town.
At Beltway 8 (Sam Houston Tollway), Kirby Drive continues again in Pearland. The city of Pearland has generated significant development along Pearland’s Kirby Drive in what’s called the Lower Kirby District.
Lower Kirby is a 1,200-acre mixed-use development in northwest Pearland, fronting South Beltway 8 and State Highway 288. The District is home to office, retail, commercial and industrial projects and continues to expand, particularly in the areas of life science, energy and manufacturing. Existing developments within the Lower Kirby District include life science projects such as Swiss-based Lonza’s viral and immunotherapy development and manufacturing facility – the largest dedicated cell and gene therapy manufacturing facility in the world, Merit Medical’s R&D and manufacturing facility, Cardiovascular Systems, Inc.’s medical device manufacturing facility and Millar’s headquarters, R&D, and manufacturing facility, currently under construction. Other developments in the District include Mitsubishi Heavy Industries Compressor Corporation’s manufacturing and service facility, Dover Energy’s manufacturing and operations facility, Tool-Flo Manufacturing’s headquarters, training and manufacturing facility, Pearland Surgery Center and Bass Pro Shop.
Nov. 15, 2022 Realty News Report Copyright 2022
Photo credit: Ralph Bivins, Realty News Report Copyright 2022
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