Pinto Business Park: Hines Has 840,000 sf Under Construction

In Houston, A total of 840,000 sf of industrial space is under development in the Pinto Business Park, a 971-acre project located at the southwest corner of Beltway 8 and Interstate 45 in Houston, as stated by Hines. About a year ago, Hines formed a joint venture with KKR & Co., the private equity firm founded by Henry Kravis and George Roberts, and Pinto Realty Development to develop the massive industrial project, the largest such development inside Beltway 8.

Plaza Verde I and II, two spec distribution buildings, each 120,000 sf, are under development at Pinto now.

In addition, a large build-to-suit a 600,000 sf distribution building is in progress. HD Supply has reportedly committed to occupying 500,000 sf of it, but Hines managing partner Palmer Letzerich, declined to confirm the identify of the tenant.

All three of the buildings will be completed in June 2014.

Activity so far indicates that Pinto Business Park is off to a fast start, Letzerich said.

“The combination of the Park’s superior location, its controlled and restricted business park setting and the Houston market’s strong fundamentals have provided for a rapid ramp-up in activity,” Letzerich said. “Pinto Business Park’s large scale, location and unique access make this an ideal location for virtually every institutional industrial application, ranging from large scale distribution centers to light industrial and assembly facilities.”

Holden Rushing of Studley is leasing the project, which is west of Bush airport.