Logistics Property Co. Breaks Ground on Houston-Area Project
The firm also signed a tenant to the building.
Logistics Property Co. has leased and begun construction on a 217,758-square-foot build-to-suit warehouse at its CityPark Logistics Center in Missouri City, Texas.
The full-building tenant at the park’s Building 7 is Standex GRID/Amran Instrument Transformers, which will use the space as both a warehouse and a manufacturing facility.
Construction of the new facility is expected to be completed in the second quarter of 2027. The cross-dock building will feature a 32-foot clear height. According to LogiPropCo, the CityPark location is one of the last large development tracts with direct access to Beltway 8 in the Southwest Houston market, offering proximity to Highway 9.
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This new building will be Standex GRID/Amran’s largest North American location, consolidating its five existing Houston-area locations.
The project’s general contractor is Burton Construction. Powers Brown is the architect, and Pape Dawson is the civil engineer.
LogiPropCo Executive Vice President for the Central Region Aaron Martell, Vice President for the South Region Mark Redlingshafer and Senior Vice President of Construction Wilson Goode worked on the transaction with Cushman & Wakefield Executive Managing Director Beau Kaleel IV and Senior Director Brooke Swerdlow. CBRE Vice President Steve King and Senior Associate Wesley King represented Standex GRID/Amran.
LogiPropCo’s 98-acre CityPark Logistics Center includes five fully leased buildings totaling more than 1 million square feet. The campus has one 12.8-acre build-to-suit site remaining, Building 6, which can accommodate up to 225,720 square feet in a cross-dock layout.
Stable in Houston
Houston’s industrial space market continues to be stable, according to a recent report from Partners Real Estate, with positive net absorption of about 7.7 million square feet in the second quarter, a 75 percent jump from the first quarter. Total vacancy was 7.4 percent, versus 7.2 percent 12 months prior.
Warehouse and distribution space in the Southwest Corridor submarket has a total vacancy of just 5.2 percent on an inventory of about 81 million square feet and with about 3.7 million square feet under construction, Partners reported.
Two other Houston-area industrial developments also moved forward in recent weeks. In August, Provident Realty Advisors obtained $102 million for the development of a three-building project in the Baytown submarket. That campus will total 1.3 million square feet on 92 acres near the Port of Houston.
Around the same time, Trammell Crow Co. and Daiwa House Texas Inc. broke ground on the 687,338-square-foot Phase II of Blue Ridge Commerce Center. That phase, to include three speculative buildings on roughly 41 acres, is slated for delivery in spring 2027.
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