560,000‑Sq‑Ft Industrial Development Planned for North Houston
Walker Barnett, Colliers International
HOUSTON – A 35-acre parcel in North Houston has been acquired by Davis Commercial Development for a 560,000-square-foot distribution project.
Davis Commercial Development will design and build Cypress Preserve Logistics Center, a new industrial park that will include two cross-dock buildings and two single-tenant facilities. The park is situated on Cypress Slough Drive near the intersection of I‑45 and FM 1960 in Houston, Texas.
Walker B. Barnett and Ryan Byrd of Colliers International will represent Davis Commercial Development in the marketing and leasing of the park.
“Cypress Preserve Logistics Center is ideal for tenants who need access to both the Houston and national markets, thanks to convenient connections to I‑45 and the Hardy Toll Road,” said Jeff Stringer of Davis Commercial Development. “Dual highway access will enable faster product flow into and out of the park. We are developing to Class A institutional standards in the northern market, positioned roughly midway between Beltway 8 and the Grand Parkway. The site is also near George Bush Intercontinental Airport and close to many new and existing residential neighborhoods on Houston’s north side.”
The buildings will present attractive, modern architecture at their entrances, featuring multi-level canopies and extensive use of energy-efficient glass. Groundbreaking for Cypress Preserve Logistics Center was scheduled for January 2019, with delivery expected in the fourth quarter of 2019.
“These buildings are being engineered and constructed to meet the latest technological standards required by today’s logistics and e-commerce operators,” said Jeffrey Davis of Davis Commercial Development.
“We designed the park with modern distributors and logistics providers in mind,” said Walker Barnett, Principal & Director at Colliers International. “Flexible space sizes will range from 64,500 to 258,000 square feet, with 32-foot clear heights.”
According to Colliers’ Q3 2018 International Houston Industrial Report, Houston’s industrial vacancy rate stood at 5.7%. Net absorption rose sharply during the quarter, increasing 157% from 700,000 square feet to 1.8 million square feet. Much of the leasing activity reflects population growth and job creation that are boosting consumer spending and demand for logistics and distribution facilities.
Todd Edmonds and Michelle Soderberg of Colliers International represented the land seller, Hendricks Interests LLC.
