Trammell Crow Co. has broken ground on the fifth and final phase of Park 8Ninety in Missouri City, Texas. The industrial project, a joint venture with Artis REIT, will total 676,860 square feet across three buildings when completed in late summer next year.
According to CommercialEdge information, Comerica Bank is providing $34.2 million in construction financing for the development. The loan matures in 2024.
Located on 127 acres at the intersection of the Sam Houston Tollway and Highway 90A, Park 8Ninety is 4 miles from Interstate 69 and less than 20 miles from downtown Houston.
The 441,360-square-foot Building 11, the first structure in the fifth phase, will have 36-foot clear heights in a cross-dock configuration. Building 12 will span 178,800 square feet and offer 32-foot clear heights as well as an adjacent, 3.1-acre parcel for future parking or storage purposes. The final, rear-load Building 13 will comprise 56,700 square feet with 28-foot clearances.
The first phase of Park 8Ninety opened in July 2016, comprises 439,916 square feet and is fully leased. The second phase added 576,407 square feet in September last year and is 72 percent leased. The third and fourth phases—both completed as build-to-suit projects—delivered in 2019 and 2020 and include 132,991 square feet.
Burton Construction serves as the general contractor for the development. Alexander Reilly and Bo Pettit from CORFAC International member Boyd Commercial will handle leasing efforts.
Park 8Ninety is only one of several major industrial projects the commercial developer has underway across the nation. In mid-November, Amazon announced that Trammell Crow will develop a 700,000-square-foot fulfillment center in Mississippi, the e-commerce giant’s third in the state.