{"id":1004635099,"date":"2022-12-14T13:11:00","date_gmt":"2022-12-14T21:11:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004635099"},"modified":"2022-12-14T14:51:55","modified_gmt":"2022-12-14T22:51:55","slug":"idv-signs-new-lease-at-3-5-msf-houston-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/idv-signs-new-lease-at-3-5-msf-houston-project\/","title":{"rendered":"IDV Signs New Lease at 3.5 MSF Houston Project"},"content":{"rendered":"
\"\"<\/a>

South Belt Central Business Park. Image courtesy of Cushman & Wakefield<\/p><\/div>\n

Investment & Development Ventures<\/strong> has signed a 603,389-square-foot lease at its South Belt Central Business Park, a 3.5 million-square-foot industrial park in Houston.<\/p>\n

Cushman & Wakefield<\/strong> represented both the landlord and the tenant, a company providing third party logistics services.<\/p>\n

The new tenant will fully occupy the industrial development\u2019s Building 4, a cross-dock project expected to be completed in January 2023. The property will offer 36-foot clear heights, ESFR sprinklers, 360 parking spots, more than 196 parking spots for trailers and 4,500 square feet of office space.<\/p>\n

Located at 4902 S. Belt Central Drive, Building 4 is part of the project\u2019s Phase II, consisting of two additional buildings that are expected to be delivered in February 2023. South Belt Central Business Park\u2019s Phase I, completed and fully occupied, was financed through a $60 million loan originated by a private lender, CommercialEdge data shows. Situated across Beltway 8, the industrial park is 19 miles from downtown Houston, 22 miles from the Bayport Container Terminal in Seabrook, Texas, and within 40 miles of George Bush Intercontinental Airport.<\/p>\n

Houston’s expanding industrial market<\/h2>\n

Cushman & Wakefield\u2019s team led by Vice Chairman Jim Foreman and Brooke Forest negotiated on behalf of IDV, while the company\u2019s Executive Managing Director Stephen Schneidau and Senior Director Chuck Berger worked on behalf of the tenant.<\/p>\n

According to recent CommercialEdge data<\/a>, Houston closed October with a 7.6 percent industrial vacancy rate, one of the highest among major markets. Due to a strong demand however, the market is set for a significant expansion, with 25 million square feet of industrial space under construction, representing 4.5 percent of its existing stock.<\/p>\n

In October, Lovett Industrial started construction on 610 Business District, a master-planned business park in Houston that is expected to include a total of 1 million square feet of industrial space<\/a>. A month earlier, Lineage Logistics signed a full-building<\/a> lease at Boomerang Interests’ newly constructed Houston ColdPort facility.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new tenant will fully occupy the development’s Building 4, expected to be completed in early 2023.<\/p>\n","protected":false},"author":2991,"featured_media":1004635108,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21748,21742],"tags":[32799,41387],"class_list":["post-1004635099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-industrial","category-latest","tag-cushman-wakefield","tag-jim-foreman"],"acf":[],"yoast_head":"\nIDV Signs New Lease at 3.5 MSF Houston Project - CPE<\/title>\n<meta name=\"description\" content=\"Investment & Development Ventures leased space at South Belt Central Business Park, a 3.5 million-square-foot industrial project in Houston.\" \/>\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\/idv-signs-new-lease-at-3-5-msf-houston-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IDV Signs New Lease at 3.5 MSF Houston Project\" \/>\n<meta property=\"og:description\" content=\"Investment & Development Ventures leased space at South Belt Central Business Park, a 3.5 million-square-foot industrial project in Houston.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/idv-signs-new-lease-at-3-5-msf-houston-project\/\" \/>\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=\"2022-12-14T21:11:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-14T22:51:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/SouthBeltCentral_Building-Image-e1670933827241.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\/idv-signs-new-lease-at-3-5-msf-houston-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/idv-signs-new-lease-at-3-5-msf-houston-project\/\",\"name\":\"IDV Signs New Lease at 3.5 MSF Houston Project - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/idv-signs-new-lease-at-3-5-msf-houston-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/idv-signs-new-lease-at-3-5-msf-houston-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/SouthBeltCentral_Building-Image-e1670933827241.jpg\",\"datePublished\":\"2022-12-14T21:11:00+00:00\",\"dateModified\":\"2022-12-14T22:51:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"Investment & Development Ventures leased space at South Belt Central Business Park, a 3.5 million-square-foot industrial project in Houston.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/idv-signs-new-lease-at-3-5-msf-houston-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/idv-signs-new-lease-at-3-5-msf-houston-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/idv-signs-new-lease-at-3-5-msf-houston-project\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/SouthBeltCentral_Building-Image-e1670933827241.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/SouthBeltCentral_Building-Image-e1670933827241.jpg\",\"width\":1200,\"height\":900,\"caption\":\"South Belt Business Center. 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