Home Depot Signs Mega-Lease For Warehouse In Northwest Houston
Home Depot inked a 20-year lease for a 770K SF warehouse in Hines' Grand National Business Park, the Houston Chronicle reports. The retailer will serve as the anchor tenant to the business park, which began construction in July.
Grand National Business Park is a 107-acre industrial mixed-use project in Northwest Houston. The site is at the southeast corner of Beltway 8 and Gessner Road. The plan is to develop over 1.5M SF of industrial and logistical space there. Cushman & Wakefield’s Jim Foreman and Allison Bergman are responsible for leasing.
Northwest Houston remains one of the metro’s strongest industrial submarkets. Overall, the city’s industrial market is on a record-breaking streak, closing 2018 at a 10-quarter low vacancy of 5%.