Tear Down Time
We’ve heard much about lack of good industrial sites available in North and Northwest Houston. (It's the NFL off season so people need something to talk about.) Will a newly announced project mark a turning point in freeing up tracts?
Molto Properties and Generational Commercial Properties are co-developing Airtex Commerce Park in North Houston. Colliers’ Mike Taetz, Bill Byrd, and Ryan Byrd—the property’s leasing agents—tell us it's a redevelopment play, and may be a harbinger of more. The 19-acre site on Airtex houses the former Armadillo Mall. Above, Bill and Generational's Joe Llamas posed for us in front of the wrestling ring in that retail center/flea market, which will be demolished in the next two weeks. (You'll need to find a new place to get handmade wooden wind chimes.) In its place will stand two state-of-the-art industrial buildings. Phase 1, delivering this fall, is a 166k SF distribution building. (Phase 2 will be a similar size.)
Mike and Ryan tell us the location boasts amazing access: five entry points. (Luckily, it's an industrial complex and not a fort, so that's perfect.) It’s only a couple hundred feet off I-45. The property is fully spec, but the Colliers team has a large pool of deal flow to pull from. Besides the imminent deliveries of the Grand Parkway and Exxon spurring interest, Mike says many distribution users are realizing North Houston locations are much easier to access from Dallas. The gents also say industrial tenants will love the building’s layout: It’s highly efficient and can be broken down to 40k SF blocks.