STAFFORD, Texas – (Realty News Report) – Colliers announced that 568,084 SF of leasing has been completed in the new Weatherford Business Park in Stafford, on the site of a former nursery on the southwest side of Houston.
Crow Holdings acquired the 34-acre Weatherford Farms property in 2020, ending the nursery’s 50-year run of selling plants.
The fast pace of development, construction and leasing yielded the following deals:
In August 2021, Chempak leased Building 3, signing a 10-year lease of 156,726 SF. Chempak was represented by Anthony Squillante and Drew Coupe of Avison Young in the transaction.
Building 2 has recently been leased by three tenants. Holiday Logistics dba King of Christmas leased 88,721 SF and was represented by Clay Pritchett of NAI Partners. Chadwell Supply Texas leased 144,682 SF, acquiring the largest portion of Building 2, and was represented by Reed Parker of Lee & Associates – Houston. Finally, Dishaka leased 77,802 SF in the northeast corner of the building and was represented by Terry Nehls of Fincher Companies.
Immatics U.S., Inc. leased Building 1, a 100,153 SF rear-load building fronting Murphy Road. They were represented by Scott Visin of Cushman & Wakefield.
“It is exciting to see Weatherford Farms 100% leased just a few months after completion,” said Cory Driskill, Managing Director of Crow Holdings. “The success of the project is testament to a great location in Stafford and quality product that met the demands of the marketplace. The professional brokerage team at Colliers did an outstanding job of marketing the project and executing on leases.”
Weatherford Farms Business Park is a three-building industrial development located at 13203 Murphy Road in Stafford, Texas. The complex is situated on 34 acres and features extensive road frontage along both FM 1092 and Mula Road. The buildings provide an excellent location for industrial distribution or flex space. The developer, Crow Holdings Industrial, completed the project in September 2021.
Barkley Peschel, Walter Menuet and Jason Scholtz of Colliers represented the landlord, Weatherford Farms DC, in the transactions and handled the leasing for the property. Cory Driskill and Emily Walker of Crow Holdings Industrial represented the developer.
When the Weatherford Farms acquisition was announced in 2020, nurseryman Jack Weatherford said: “Weatherford Farms is blessed to have been a part of the Stafford community for more than 50 years. The property’s location is great for the developing plans and we can’t wait to see what is in store.
The Weatherford property is located in Houston’s Hwy 59/Hwy 90 industrial submarket. The submarket contains 29.6 million square feet of industrial space, which is currently 93 percent occupied and the average asking market rental rate is $8.58 per SF.
After being overlooked for decades, southern sector of Beltway 8 around Highwya 90 has exploded with industrial development in the last four or five years. With access to US 90A, the Southwest Freeway, Highway 288, the Fort Bend Toll Road and other highways, the area offers logistics options. Hines, Welcome Wilson, Clay Development and other major developers have jumped into the South Belt market with spec industrial and build-to-suits.
In other Southwest activity, Trammell Crow Co. and joint venture partner Artis REIT, a Canadian-based real estate investment trust, broke ground last year on a 676,860-SF speculative industrial project in the Park 8Ninety development, 129-acre business park near the intersection of Beltway 8 and US 90A.
Aug. 1, 2022 Realty News Report Copyright 2022
Image: Courtesy Colliers Houston.
File:Transformed Weatherford Farms Yields 568000 SF of Leases
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File: Transformed Weatherford Farms Yields 568000 SF of Leases