MISSOURI CITY – (Realty News Report) – Logistics Property Co., a Chicago-based developer, has begun construction on a 151,200-square-foot warehouse at CityPark Logistics Center, a 98-acre industrial site that is poised for significant future development.
The firm is also designing a new 215,000-square-foot building at CityPark that is expected to begin speculative construction in 2023 and is currently being marketed for lease. These additions are part of a broader master plan for the park that will support additional industrial growth in the area.
The final phase of CityPark Logistics Center is planned to include roughly 600,000 square feet of industrial space with direct frontage and access to Beltway 8. That phase is being offered as a build-to-suit opportunity to attract larger, bespoke occupiers looking for strategic highway visibility and convenient regional access.
CityPark Logistics Center is situated at the intersection of Beltway 8 and Highway 90 in what is known locally as Houston’s Southwest Industrial Submarket. Although referred to as “southwest,” this submarket sits relatively close to the geographic center of the Houston metropolitan area, particularly when compared with more suburban southwest developments such as First Colony. Over the past five years the Highway 90/Beltway 8 submarket has undergone a surge in new industrial construction, drawing major developers including Hines and Clay, among others, who have invested in large-scale projects.
Leasing representation for CityPark Logistics Center is being handled by Beau Kaleel and Brooke Forrest of Cushman & Wakefield. Their marketing efforts are focused on attracting logistics, distribution, and light-industrial tenants that will benefit from the park’s proximity to major transportation routes and the growing regional customer base.
“Missouri City continues to attract substantial supply-chain and distribution companies as Fort Bend County experiences population growth levels comparable with some of the fastest-growing areas in the United States,” said Robert Wheless, Senior Vice President – South Region. That population growth, combined with strong regional demand for modern warehouses, is supporting new speculative and build-to-suit development across the market.
Logistics Property Co. operates with more than 70 employees across eight strategically located offices. Its portfolio includes 52 buildings totaling approximately 23 million square feet in key logistics markets across North America, with an estimated end value of more than $3 billion. The company focuses on developing institutional-quality distribution and fulfillment facilities that serve national and regional supply chains.
Houston’s industrial sector is experiencing robust activity. In recent weeks several developers announced new industrial expansions in the market, including Hillwood (a Perot company), Urban Logistics Realty, and a real estate fund advised by Crow Holdings Capital. These moves reflect broader demand for logistics space driven by e-commerce growth, supply chain reshoring, and the expanding consumer base across Greater Houston.
Oct. 5, 2022 Realty News Report © 2022
Image courtesy of Powers Brown Architecture
File: Chicago Firm Starts Building in Houston
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