Stream Signs 700k SF of Industrial Leases in 45 Days
Stream's industrial team—managing director Matteson Hamilton, partner Justin Robinson, Blake Warren, Jeremy Lumbreras and Michael Flowers—started 2015 with a bang, inking 700k SF of new leases in Houston within the first 45 days of the year. (Tack in renewals, and they've closed more than 1M SF.) It was the strongest start in the team's history, Justin says, despite macroeconomic concerns from the slowing energy markets. While crane-served oilfield services and heavy manufacturing companies are taking a hit, distribution firms are filling the gap, Matteson tells us, as companies are attracted to our growing population base. Houston has 261k SF of distribution space, and it's 4.8% vacant.
Here's what Stream Houston has completed thus far in 2015:
- 207k SF for Thackeray Partners in Bayou Bend Business Park (Matteson and Adam Jackson)
- 186k SF for Principal Financial Group in Bay Area Business Park (Justin and Kyle Valentine)
- 171k SF to Professional Packaging Systems in Sugar Land Interchange Distribution Center. Justin and Michael repped landlord IIT, and Stream's Cannon Green repped the tenant.
- 144k SF to Texas Tissue Converting in The Hardy Distribution Center (pictured). Justin and Kyle repped landlord Clarion Partners, and CBRE's Ed Frantz repped the tenant.
- 50k SF to CPAP.com in Freeport Business Center. Matteson and Jeremy repped landlord DRA Advisors, and JLL's Jarret Venghaus repped the tenant.
- 47k SF to P&I Supply in Beltway Crossing Business Park. Justin and Michael repped landlord IIT, and Caldwell Cos' Bill Ginder repped the tenant.