Stream and Principal Developing 1 Million-SF Spec

HOUSTON– (Realty News Report) – Stream Realty Partners is developing a speculative 1 million-SF Baytown industrial project in a joint venture with Principal Real Estate Investors.

Stream, a national real estate services, development, and investment company, is expected to break ground in the third quarter of 2022 on Portside Logistics Center near the Port of Houston.

The new project, located at 4838 Borusan Road in Baytown, will be in the Houston’s Southeast industrial submarket, offers immediate access to State Highway 99/Grand Parkway, Interstate 10, and Highway 225.

Houston, which has gained significant prominence in container shipping, has access to the Port of Houston’s two container terminals – Barbour’s Cut and Bayport.

Some experts have suggested that Houston will emerge as an attractive alternative to the California port of Los Angeles and Long Beach where there have been logistics bottlenecks that exacerbate the national supply chain problems.

Without a doubt, Houston has become one of the nation’s hottest markets for distribution building construction and industrial real estate investment.

“The explosive population growth we are experiencing in Houston and greater Texas, coupled with the port diversification strategies many distributors are seeking, all position Houston’s Southeast submarket for continued positive momentum for the foreseeable future,” said Justin Robinson, Executive Managing Director of Stream’s Industrial Development Services division. “With serious land constraints in place for industrial development in this pocket, we feel this development opportunity perfectly positions our venture to capture this market growth and strong tenant demand.”

The New Spec Project

Portside Logistics Center will offer multiple configurations with an expandable 760,000-SF cross-dockbuilding and a flexible 260,000-SF front-loadbuilding with a 40-foot clear height and 36-foot clear height, respectively. Both buildings will deliver with spec office space, LED warehouse lights, a white-boxed interior warehouse, and fully fenced and secured truck courts. The project is seeking LEEDcertification as part of the Core and Shell construction.

Kyle Fletcher, a Director in Stream’s Houston office, will assist in the development management of the ground-up industrial project. Robinson, Senior Director Tyler Wellborn, and Director Craig McKenna will provide oversight on the ground-up development.

Stream’s Tyler Maner and Jeremy Lumbreras, will oversee leasing.

“We are extremely grateful to be growing a long-standing relationship with Stream through our partnership on Portside Logistics Center,” said Colin Frye, Asset Manager for Principal Real Estate Investors. “This project is a natural fit to continue our work together given our shared experience in the Port Houston area and the industrial sector overall.”

A few years ago, Principal and Stream Realty joined forces to develop Bay Area Business Park, a 3.3 million-SF project located near the Port of Houston.

Dallas-based Stream, has offices in Atlanta, Austin, the Carolinas, Chicago, Dallas, Denver, Fort Worth, Houston, Greater Los Angeles, Nashville, Northern Virginia, Phoenix, San Antonio, and Washington, D.C.

April 14, 2022 Realty News Report Copyright 2022

Image: Courtesy Stream Realty Partners

LISTEN – Last year, Stream’s Preston Young was a guest on THE RALPH BIVINS PROJECT, a new podcast published by Realty News Report. To listen to the entire interview CLICK HERE. Young is the National Head of Office Investor Services for Stream Realty Partners in Houston where he oversees the strategy and advancement of the firm’s national office portfolio.

File:  Stream and Principal Developing 1 Million-SF Spec

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