Market briefs
Junction Starts Logistics Project, Market briefs
In Houston, Junction Commercial Real Estate is developing an industrial distribution building near the Gulf Freeway and Beltway 8, one of a number of new projects Junction is developing in the Houston area.
The new development, called Shaver Broadway Logistics Center, will be on a 10.1-acre site located at the hard corner of N. Broadway Street and S. Shaver Street.
This purchase is Junction’s tenth land purchase for development purposes in the last three years, as the four-and-a-half-year-old firm grows to achieve its goal of building Class-A, institutional-grade industrial distribution facilities across the nation.
“Our goal is to be a national development platform,” said Reed Vestal, CEO of Houston-based Junction, which also is specializing in construction management, investment management and commercial realty brokerage. Junction is also moving into Phoenix and other Texas markets, including Laredo on the Mexico border.
Located at the hard corner of N. Broadway Street and S. Shaver Street,, Shaver Broadway Logistics Center, will be a 157,336-SF industrial distribution building scheduled for completion in the second quarter of 2026.
Currently there is shortage of land suitable for development around the Port of Houston and some of the nearby municipalities, such as La Porte, Deer Park and Pasadena, said Vestal.
Junction purchased the site, which is located inside the city limits of Houston, from the Pasadena Independent School District. The property had been excess land adjacent to the school district’s bus barn. Reed Vestal, John Erck, and Quade Towers of Junction Commercial Real Estate represented Junction in the land purchase. Vestal, Erck, and Towers will also lead leasing and sales efforts for the new distribution building.
Ware Malcomb is the architect for the Shaver Broadway Logistics Center. Civil Engineering is by Langan and the general contractor is Angler Construction.
Houston, with an industrial vacancy rate of 6.2%, is the leading Texas market for industrial construction with 17.8 million SF in progress, including warehouse and logistics space and other commercial industrial buildings, as stated by a recent report from CBRE.
