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ZXP Technologies leased a new distribution facility at Port 10 Logistics Center in Baytown. The company signed for 89K SF of industrial space at 2700 East Freeway.
“As the energy market continues to improve, companies like ZXP Technologies will continue to grow and expand their market,” Avison Young's Bob Berry said in a release. “The petrochemical industry remains the driving force behind Houston’s industrial market.”
Berry and Avison Young's Grant Hortenstine represented the tenant, ZXP Technologies. JLL represented the landlord, Pontikes Development.
The industrial space is located south of Interstate 10 in the Port 10 Logistics Center and will serve as the major distribution facility for ZXP’s manufactured lubricant-based products.
“Locating our facilities near ports, railroads and ship channels is key to our success and to providing the best possible customer service,” ZXP Technologies CEO James Taylor said.
Houston's industrial market has been peaking. In Q1 2019, 15.5M SF of industrial space was under construction, according to Avison Young. The 80 buildings primarily are warehouse or distribution facilities, and are 28.3% pre-leased. Direct vacancy was 5.2%.
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