{"id":1004537532,"date":"2021-05-27T02:18:54","date_gmt":"2021-05-27T10:18:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004537532"},"modified":"2022-12-08T19:16:57","modified_gmt":"2022-12-09T03:16:57","slug":"houston-distribution-center-lands-new-tenants","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/","title":{"rendered":"Houston Distribution Center Lands New Tenants"},"content":{"rendered":"<div id=\"attachment_1004537565\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Interwood-Distribution-Center-larger.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004537565\" data-attachment-id=\"1004537565\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/interwood-distribution-center-larger\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Interwood-Distribution-Center-larger.png\" data-orig-size=\"500,375\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Interwood-Distribution-Center-larger\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Interwood Distribution Center. Image courtesy of Holt Lunsford Commercial Investments &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Interwood-Distribution-Center-larger.png?w=500\" class=\"wp-image-1004537565 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Interwood-Distribution-Center-larger.png?w=300\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Interwood-Distribution-Center-larger.png 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Interwood-Distribution-Center-larger.png?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004537565\" class=\"wp-caption-text\">Interwood Distribution Center. Image courtesy of Holt Lunsford Commercial Investments<\/p><\/div>\n<p>The first two tenants at Interwood Distribution Center in Houston, a joint venture between Holt Lunsford Commercial Investments and GID Real Estate Investments, have leased a total of 273,347 square feet in two buildings.<\/p>\n<p>The leases by GCP Paper USA, Inc. and Tailift Material Handling USA, bring Interwood Distribution Center to 80 percent occupancy less than five months after it was completed. <\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-inks-472-ksf-northeast-dallas-lease\/\">Clarion Partners Inks 472 KSF Northeast Dallas Lease<\/a><\/p>\n<hr>\n<p>Located at the northeast corner of John F. Kennedy Boulevard and Interwood South Parkway, about one mile south of George Bush Intercontinental Airport, the distribution center was completed in December 2020. It has a total of 341,692 square feet across two adjacent buildings. Building 1 is a 105,847-square-foot rear-load facility and Building 2 is a cross-dock facility with 235,845 square feet of space.<\/p>\n<p>GCP Paper USA Inc. has signed a full-building lease at Building 2 to house the company\u2019s U.S. headquarters and its first manufacturing and distribution center in the country. Tailift Material Handling, a subsidiary of Toyota specializing in small industrial vehicles, is relocating its U.S. headquarters from Southern California to Houston and will occupy 37,502 square feet in Building 1. Building 1 now has 68,345 square feet of remaining leasable space, including a 2,874-square-foot spec office. The remaining space could also be divided down to 14,121 square feet.<\/p>\n<p>Brokers on the GCP Paper USA deal were Craig Bean and John Kruse of <a href=\"https:\/\/www.commercialsearch.com\/news\/motorola-opens-dallas-area-manufacturing-center\/\">Holt Lunsford Commercial<\/a>, a Texas-based, third-party commercial real estate company. Eric Hughes of Centermark Commercial Real Estate acted as a tenant representative for GCP Paper USA.<\/p>\n<p>Bean, managing principal of Houston industrial leasing for Holt Lunsford Commercial, said in a prepared statement the North Houston industrial submarket has seen a record amount of speculative development over the last two years. He said the firm\u2019s research shows the average lease-up time to stabilize speculative projects in the submarket is approximately 18 to 24 months.<\/p>\n<h2><strong>GID Industrial Moves<\/strong><\/h2>\n<p>In April, Boston-based GID and Ivanho\u00e9 Cambridge of Montreal announced the <a href=\"https:\/\/www.commercialsearch.com\/news\/gid-ivanhoe-cambridge-form-industrial-platform\/\">creation of GID Industrial<\/a>, an investment platform targeting industrial assets in growing markets nationwide with a focus on urban infill assets. GID Industrial is a wholly owned subsidiary of GID. The subsidiary has already closed and committed to multiple acquisitions and developments in Tampa, Fla; Dallas; Las Vegas and Northern New Jersey. One of the assets is a 135,745-square-foot light industrial building in Gilbert Spectrum Business Park in Gilbert, Ariz., in metro Phoenix, which was purchased for $23.2 million from SunCap Property Group. <\/p>\n<p>At the end of last year, GID <a href=\"https:\/\/www.commercialsearch.com\/news\/gid-buys-tampa-bay-warehouse-for-14m\/\">bought a 101,075-square-foot distribution center<\/a> in the Starkey Lakes Industrial Center in the Tampa Bay, Fla., area from Monin for $14 million. GID leased the building back to Monin, a syrup and sauce manufacturer.<\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GCP Paper USA Inc. and Tailift Material Handling USA bring Interwood Distribution Center to 80 percent occupancy less than five months after it was completed.<\/p>\n","protected":false},"author":1068,"featured_media":1004537565,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,1589,21748,21742],"tags":[51093,51094,33565,36576],"class_list":["post-1004537532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-houston","category-industrial","category-latest","tag-gid","tag-gid-industrial","tag-ivanhoe-cambridge","tag-suncap-property-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Houston Distribution Center Lands New Tenants - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Houston Distribution Center Lands New Tenants\" \/>\n<meta property=\"og:description\" content=\"GCP Paper USA Inc. and Tailift Material Handling USA bring Interwood Distribution Center to 80 percent occupancy less than five months after it was completed.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-27T10:18:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:16:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Interwood-Distribution-Center-larger.png\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/\",\"name\":\"Houston Distribution Center Lands New Tenants - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Interwood-Distribution-Center-larger.png\",\"datePublished\":\"2021-05-27T10:18:54+00:00\",\"dateModified\":\"2022-12-09T03:16:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/houston-distribution-center-lands-new-tenants\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Interwood-Distribution-Center-larger.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Interwood-Distribution-Center-larger.png\",\"width\":500,\"height\":375,\"caption\":\"Interwood Distribution Center. 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