More New Industrial Multi-Tenant Distribution Buildings Under Construction!Posted
Houston is a powerful city with significant opportunity for industrial companies of all kinds to thrive here. Energy is important, but certainly the Port of Houston (with the new expansion of the Panama Canal), the Medical Center and the generally growing population because of our low cost of living, are all instrumental in keeping our economy doing well.
In my November 2013 Website blog, I outlined 24 new industrial multi-tenant distribution construction buildings totaling nearly 10 million square feet.
Then in May 2014, I listed 22 more of these commercial projects totaling another 6.4 million square feet.
There are now another 15 multi-tenant distribution buildings projects totaling over 5 million square feet. So, that totals over 21 million square feet of new industrial construction projects either announced or under construction over this past year or so. That is a lot of commercial industrial construction activity! Actually, unprecedented in my experience.
I am hopeful that there is sufficient demand for space and that our real estate development community will see good leasing activity! That said, I am interested in watching how the new space is absorbed over the coming months. I am certainly not a prophet of doom, in any way. I just watch what is going on, log it … and reflect on the data in comparison to I what have seen in Houston’s past! The new projects are:
· Airtex Commerce Center – 320,000 sf, marketed by Colliers.
· BayPort North #2 – 365,727 sf, by Carson Co.
· Cole Creek North – 152,095 sf, by KTR.
· Deer Park 13th St. – 200,000 sf, marketed by Cushman & Wakefield.
· Energy Commerce Business Park – 287,560 sf by Clay Development.
· Fallbrook Pines – 709,045 sf, by Clarion & Trammell Crow.
· Fallbrook #1 – 500,400 sf, by Hines.
· Fallbrook Distribution Center II – 400,250 sf, by Liberty Property Trust.
· First Grand Parkway Commerce Ctr. – 419,675 sf, by First Industrial.
· First NW Commerce Center – 350,820 sf, by First Industrial.
· Gateway @ Central Green – 118,400 sf, by DCT.
· Northwest Crossroads #2 – 320,430 sf, by DCT.
· ProLogis West by Northwest – 83,200 sf, by ProLogis.
· Ten West Crossing #7 – 67,743 sf, by East Group
· West Ten Distribution Center #1 – 415,296 sf, by Transwestern.
Our Houston industrial project developers are smart, and insightful and they certainly have the same knowledge concerning the market that I do when they are making decisions to build.
… Stay tuned!
Michael Hill Properties offers more than 40 years of experience in brokering commercial industrial properties, such as distribution warehousing and manufacturing, for sale and lease in the Greater Houston Area as well as outside of Houston. For more information on Michael Hill Properties, visit mhprop.com or call (713) 960-6060.