HOUSTON – (Realty News Report) – Transwestern Development Company, which has launched a significant industrial development program in Texas, has finished constructing a large warehouse near the Bayport Container Terminal at the Port of Houston.
The new development, called Bayport 146 Distribution Center, is a 454,600-SF cross-dock industrial space at 5803 Old Highway 146 in Seabrook.
The site is adjacent to Bayport Container Terminal, and the highway provides direct access with multiple driveways and permits heavy haul loads allowing tenants to maximize container loads and reduce shipping costs.
The Industrial Revolution
Houston’s industrial real estate market has been exceptionally hot in recent years. Amazon had been a major player in the warehouse building boom, but the construction surge extended far beyond that e-commerce giant. Some research indicates that about 30 million SF of industrial space was filled in Houston in 2022 (net absorption) and another 30 million SF is under development.
Huge leases, over 1 million SF, have been signed by Tesla and Walmart and Macy’s leased 900,000 SF, to name a few Houston area leases.
Cargo activity hit record levels at the Port with major gains in the number of shipping containers moving through the Bayport container terminal.
“We are thrilled to deliver this distribution center to meet the continued rising demand in the Houston market,” said David Duncan, Development Manager, TDC.
The strong activity in Houston elevated the cost of land suitable for industrial development. Occupancy rates remain high despite the construction spree.
Good Space is Hard to Find
“It has become increasingly difficult to find high-quality options near the Port of Houston,” added Ryan Baumgartner, Development Manager, TDC. “This generational project within minutes of Bayport Container Terminal provides companies an unmatched opportunity to lock in their position in a rapidly growing Port market.”
Currently, the Transwestern Development Company’s Texas Team, led by Regional Partner Denton Walker, has five industrial projects totaling 5.4 million SF under construction or in pre-development planning stages across the Lone Star State.
Transwestern’s newest project is located in Southeast Harris County in a waterfront municipality called Seabrook. Friendswood Development, formerly part of Exxon, was the driving force to developing the Bayport area, which once was about 10,000 acres carved out from Humble Oil and Refining Co.’s Friendswood Oil Field.
Transwestern’s Bayport 146 Distribution Center features 36-foot clear heights and 400 feet of building depth, the ideal specifications for the needs of today’s e-commerce and logistics users. The flexible space can accommodate tenants from 113,680 to 454,600 SF and includes up to 74 trailer parking spaces and 150- and 180-foot truck aprons.
Transwestern’s Brian Gammill, Darryl Noon, and Nick Peterson are leasing the property, which broke ground in April 2022.
Transwestern Development Company develops logistics, multifamily, office, mixed-use and healthcare properties, with a pipeline of projects in process or completed since 2012 exceeding $9 billion.
Feb.9, 2023. Realty News Report Copyright 2023
Image Courtesy Transwestern
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