HOUSTON – (Realty News Report) – Reich Brothers acquired the former 1.2 million SF DHL Intermodal Campus in Baytown, with plans to redevelop the property.
The DHL facility is located in the 15,000-acre TGS Cedar Port Industrial Park, the nation’s largest rail and barge-served industrial park,
The DHL Intermodal site consists of four separate buildings spanning 200,000- 400,000 SF on 67 acres. The property has six acres paved container storage. The site offers dual rail service to the BNSF and Union Pacific rail lines along with an on-site rail capacity of up to 350 rail cars.
Reich Brothers, which is based in White Plains, NY and Los Angeles, said it plans to make a significant investment to enhance the site’s functionality for distribution, rail and port- related logistics, and manufacturing uses.
“We are committed to preserving the integrity and infrastructure of the site for its highest and best use. The Port of Houston has become the country’s number one region for exports leading the nation in foreign waterborne tonnage, and the need for turn-key warehouse space in this location will be in high demand,” said Matt Reich, Vice President of Acquisitions at Reich Brothers.
Reich Plans to Double Its Portfolio 18 Months
Reich Brothers is a national industrial real estate investment group with 17,000,000 SF under management across the United States and specializes in the repurposing of underutilized industrial assets for modern day manufacturing and distribution uses. In the last 12 months, Reich has significantly scaled its currently portfolio with aims to double its existing assets under aims to double its existing assets under management over the next 12-18 months.
In November, Reich Brothers announced the purchase of a 1.9 million SF industrial campus on 53 acres in Middle River, MD for $52.5 million.
The Maryland property is the former Martin Aviation facility and it will be repurposed by Reich for modernized flex distribution and manufacturing with additional developable acreage slated for both spec industrial and big box retail development.
Reich said the planned project is estimated to exceed $30 million in additional investment and renamed Reich Brothers Aviation Station.
Baytown Hot Spot
Additional activity has been occurring in the TGS Cedar Port Industrial Park.
In November, TGS Cedar Port Partners broke ground on two spec buildings in TGS Cedar Port Industrial Park. the two new warehouses will be called: TGS Cedar Port DC 2, a 496,421-SF building and TGS Cedar Port DC 3, with 150,000 SF. TGS Cedar Port DC 2, 4407 E. Grand Parkway S., will be delivered to the market 2nd quarter of 2022. DC 2 is expandable from 496,421 SF to 917,172 square feet. And, TGS Cedar Port DC 3, located on Nita Way, will be delivered to the market 3rd quarter of 2022. DC 3 is expandable from 150,000 to 600,000 SF.
The industrial park location allows access to State Highway 99 (Grand Parkway), Interstate 10, State Highways 225 and 146, FM 1045, and the Port of Houston’s Bayport and Barbour’s Cut container terminals.
Last June, the Avera Companies, a Houston-based commercial real estate development, construction, and investment firm led by Trey Odom, signed Webstaurant Store restaurant supply firm as a tenant in Avera’s new Cedar Port logistics development. The restaurant firm leased 644,000 SF.
Jan. 11, 2021 Realty News Report Copyright 2021
Image Courtesy Reich Brothers
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File: Reich Buys Huge Site Near Port of Houston. Baytown. Cedar Port.
File: (2) White Plains, NY-based Reich Buys Huge Site. Avera. Martin Aviation. Trey Odom. Baytown. Cedar Port. TGS. BNSF. Union Pacific. Grand Parkway. Barbours Cut. DHL Intermodal Campus