Transwestern Buys 60-Acre Infill Site Near Sam Houston Race Park
A joint venture has purchased a 60-acre infill site near the Sam Houston Race Park in northwest Houston.
Transwestern Development Co., partnering with institutional investors advised by J.P Morgan Assessment Management, will develop the Sam Houston Distribution Center, a three-building, Class-A distribution center totaling 884K SF.
The site is off Fairbanks North Houston Road between Fallbrook Drive and Taub Road.
“Northwest Houston is a core national industrial market, as well as Houston’s most dynamic and strongest submarket,” TDC Senior Vice President Ben Newell said in a release. “The massive infrastructure improvement to Highway 290 ensures the long-term continual growth of the Northwest submarket and serves as a catalyst for exponential commercial and residential development along the corridor.”
Delivering in 2020, Phase 1 of construction will include:
- A 200K SF, front-load facility with a 32-foot clear height.
- A 495K SF, cross-dock facility with a 36-foot clear height.
- A 139K SF, front-load facility with a 32-foot clear height.
The attractiveness of the Northwest industrial submarket is due to its deep labor pool, skilled workforce and growing population, according to the release. The project is also expected to benefit from nearby infrastructure improvements, including the $1.8M expansion of Highway 290, which will wrap up this year.
The Northwest submarket delivered 4.4M SF of new industrial product and posted 1.9M SF of positive net absorption in Q4 2018, according to Transwestern's market research.
“The strategic geographic location, high barriers to entry, and exceptional transportation networks keep tenants flocking to Northwest Houston,” Newell said. “Sam Houston Distribution Center is well-positioned to capitalize on the existing momentum in the area, a less cumbersome permitting process, and lower taxes.”