HOUSTON – Houston-based Pontikes Development will break ground on Port 10 Logistics Center, a rail-served industrial complex that will provide 3 million square feet of warehouse and distribution space along Interstate 10, near the Houston Ship Channel.
The 246-acre site sits at the southeast corner of Thompson Road and I-10 in Baytown. The first phase is scheduled for completion in the third quarter of 2018 and will include a 485,000-square-foot building and a 295,000-square-foot building.
JLL’s John Talhelm and Kevin Erck have been retained to lead leasing and marketing for Pontikes Development.
Port 10 Logistics Center reflects Houston’s shift toward Class A, large-format warehouse facilities designed to serve consumer distribution needs. Population growth and expanding consumer goods activity have driven demand for big-box space. JLL research indicates a record number of large distribution facilities—seven projects exceeding 400,000 square feet—were set to deliver in 2017. With strong access to multimodal shipping, major ports and regional distribution networks, Houston’s industrial market is increasingly oriented toward big-box logistics.
“Port 10 will be one of the largest multimodal developments to take place in the Houston metropolitan region in many years,” Talhelm said.
When complete, Port 10 Logistics Center will total about 3 million square feet, with roughly 2 million square feet directly rail-served. The project will provide approximately 450 on-site railcar spots and direct access to Union Pacific’s Coady rail yard, which can offer additional storage capacity for high-volume rail users. The park’s rail infrastructure is engineered to handle the largest shipping containers and accommodate the area’s heaviest rail customers.
“Port 10 Logistics Center is being developed with logistics in mind,” Erck said. “It will provide more than half a mile of frontage on I-10, rail service, Foreign Trade Zone advantages, and close proximity to Port Houston’s two container terminals as well as two other deep-water terminals. Those features combine to create a unique multimodal logistics hub that can support operations ranging from retail distribution to plastics resin packaging.”
Greater Houston currently contains more than 500 million square feet of industrial space, with an overall vacancy rate near 5 percent.
The Baytown development represents a significant addition to that inventory. “This development and the investment it represents build on our commitment to Houston businesses, industry and the broader community,” said George Pontikes, president and CEO of Satterfield & Pontikes.
Oct. 19, 2017 Realty News Report Copyright 2017