Transwestern Delivers Speculative Industrial Development: The Houston Deal Sheet
Transwestern completed East Belt Logistics Park, an 859K SF Class-A industrial development in Northeast Houston.
Building 1 at 12330 Lockwood Road totals 592K SF, while Building 2 at 12320 Lockwood Road totals 267K SF. Both cross-dock facilities include 3K SF of speculative office space and are designed to accommodate a range of industrial users.
Transwestern’s Brian Gammill and Craig Bean are marketing the property for lease.
“We are confident in the success of this project as the Northeast submarket continues to attract significant user demand,” Transwestern partner David Duncan said in a statement.
“East Belt Logistics Park’s infill location on Beltway 8 provides tenants with a distinct logistical advantage, access to labor, proximity to local demand drivers, and connectivity to the major Texas markets,” he added.
SALES
Phillips Edison & Co. bought Creekside Village Green, a 75K SF lifestyle retail center in The Woodlands. The center at 26400 Kuykendahl Road is 98% occupied and was built in 2014.
JLL Capital Markets’ investment sales and advisory team led by John Indello, Adam Howells, Ryan West and Dawson Hastings represented the seller, Kobalt Investment Co.
***
Walton Global acquired 130 residential lots in Splendora. Known as Gemini, the property was acquired through Walton’s finished lot program, which operates within the firm’s builder land financing platform, targeting entitled, developed and market-ready residential lots. The program is designed to support homebuilders by providing access to inventory while mitigating development risk.
About 45 minutes northeast of Downtown Houston, the site is zoned for single-family residential development, with planned homes targeting price points of $200K and below.
***
Cabot Properties acquired Corporate Center Fannin, a fully leased, 370K SF Class-A industrial portfolio in Southwest Houston. At 10001 Fannin St. and 11030 Almeda Road, Corporate Center Fannin has two modern industrial buildings: a 219K SF cross-dock facility built in 2002 and a 151K SF front-load building completed in 2022.
The JLL Capital Markets team representing the seller, Taurus Investment Holdings, was led by Trent Agnew, Charlie Strauss, Lance Young, Brooke Petzold and Dawson Hastings.
***
JLL Capital Markets’ investment sales and advisory team led by Kevin McConn and Jeff Hollinden represented Net Lease Office Properties in the sale of the 1M SF 601 Jefferson St. office tower to Namdar Realty Group.
LEASES
Constellation Industries leased 145K SF of crane-served manufacturing space at 12800 Aldine Westfield Road in Houston's North submarket. KBC Advisors' John Ferruzzo and Jack Ferruzzo represented the landlord, GSK Industrial. Jordan Raney at JLL represented the tenant.
CONSTRUCTION AND DEVELOPMENT
Lowe’s Home Improvement opened its store at Weitzman's 273-acre Manvel Town Center development on Friday. The store has 94K SF of retail space and 30K SF of outdoor garden space. It is the second anchor to Manvel Town Center after H-E-B, which has a 108K SF store.
Upon completion, Manvel Town Center is designed to incorporate more than 1M SF of retail, entertainment, hospitality, medical and office space.
***
BCS broke ground on Humble Westfield Business Park, a 169K SF industrial development at 9035 Humble Westfield Road in Humble. The park will have four Class-A buildings ranging from 32K SF to 55K SF.
Stream Realty Partners’ Tommy Erwin and Abraham Richardson will lead leasing efforts. The Urban Cos. is serving as general contractor and architect, with Altar Group providing civil engineering services. The project is anticipated to deliver in the third quarter.
