IRG Buys Port Property, Market briefs

In Houston, Industrial Realty Group, LLC one of the country’s largest owners of commercial and industrial properties, has purchased a 221,879-SF industrial manufacturing facility at 16730 Jacintoport Boulevard, along the Houston Ship Channel.

Barge Dock, Nine Cranes & a Possible Deepwater Facility

The 21-acre site includes multiple structures with a barge dock, nine cranes, 30′ clearance, heavy power, and potential rail connection. It is strategically located to reduce waterway transit times. The site also features 800′ of frontage on the channel and the ability to add a deepwater dock for bulk vessels.

“Eager to Join the Business-Friendly Market in Texas.”

“The project’s positioning at the mouth of the Houston Ship Channel and its ability to serve as a point of entry through Houston make it unique in the market,” said Justin Lichter, Chief Investment Officer of IRG. “IRG is engaging companies that are eager to join the business-friendly market in Texas and explore both domestic and international import/export opportunities.”

With this purchase. IRG’s holdings in Texas now total nearly 1.2 million SF.

The Jacintoport property currently has 91,229 SF available for lease and approximately 10 acres for outdoor storage or expansion.

The Realty Boom Near Houston’s Port

In recent months, a flurry of warehouse transactions and new developments have emerged in southeast Houston near the Port of Houston and shipping terminals on the waterfront.

Avera Companies laid out plans to build Baywood Logistics, a 401,154 SF distribution project along Reed Bluff Road on the west side of the Houston Ship Channel. Suitable industrial land sites for new development are increasingly scarce, said Trey Odom, President and CEO of Avera

In another deal, Jackson-Shaw Development Company recently purchased 38.3 acres off Haden Road where it is slated to build a 535,000-SF industrial development near both the Port’s Barbours Cut and Bayport Container Terminals. “Trey” Erwin III and Justin Tunnell of Lee & Associates, Houston handled the land purchase

A site In the 15,000-acre Cedar Port industrial park was recently sold as part of a bigger deal. JLL Capital Markets reported the $160 million sale of the Sunbelt Logistics Distribution Portfolio, totaling 1.8 million SF in Texas, Georgia, and Florida, including a project in Baytown. Northwood Investors purchased the portfolio, which the Home Depot Cedar Port Distribution Center in Baytown.

In Pasadena, Junction Commercial Real Estate is developing the Pasadena Logistics Center, a 140,000-SF industrial project at 5176 Red Bluff Road on 10.8 acres in Pasadena near Beltway 8. Completion is scheduled for the first quarter of 2025.

In another Pasadena development, Gulf Port Logistics Park is planned for 3105 Genoa Red Bluff Road near Beltway 8. Adkisson Group Development is constructing 150,000 SF in several buildings there.