Katy Industrial Project Breaks Ground, Market briefs

In Houston, Houston-based National Property Holdings laid out plans to develop nearly 1.1 million sq ft of speculative industrial space across two buildings in Katy Prairie Business Park to meet the growing demand for logistics and manufacturing space in west Houston.

Located just north of Interstate 10 across from the Igloo’s headquarters, the 1,083,420-SF Katy Prairie Business Park will be developed in two phases at 500 Igloo Road and 700 Igloo Road.

“Katy Prairie Business Park represents a premier opportunity to deliver scale, visibility and functionality in one of Houston’s strongest industrial growth corridors,” Michael Plank, CEO of National Property Holdings, said when the deal was released. “With best-in-class design, direct freeway exposure and a business-friendly environment, the project is ideally positioned to attract leading manufacturing, engineering and logistics users seeking a strategic location in West Houston.”

CBRE’s Faron Wiley, Billy Gold, Charles Herold, and Jett Bush will handle leasing for the project, which could potentially offer tax abatement opportunities in Waller County.

Phase I will total 402,480 sq ft and Phase II will add 680,940 sq ft. The development will have 36- and 40- foot clear heights, large truck courts, and trailer parking.

National Property Holdings developed the neighboring 59,832-SF building occupied by Domino’s Pizza.

Located about 34 miles west of downtown Houston, Katy Prairie Business Park is situated between Interstate 10 and Highway 90. The region is home to major consumer goods companies, large-scale manufacturing operations, solar energy, and emerging technology companies.

Companies with operations in the area include Costco, H-E-B, Tesla, Ferguson, Igloo, Amazon, Medline, and more.

Houston’s industrial vacancy rate dropped to 6.7% in the second quarter as the region posted strong occupancy gains, as stated by CBRE. The Houston area absorbed 7 million sq ft of industrial space, including 840,000 sq ft in the West submarket.

The Katy Prairie Business Park development follows several major groundbreakings across the Houston region in the second quarter. The biggest projects included the 1 million-SF Building 1 at Prologis Legacy Point in northwest Houston, Buildings 4-7 (551,000 SF) at Southwest by South Logistics Center, and Buildings 1 & 2 (230,000 SF) at Kuykendahl 45 Crossing, as stated by CBRE.

In nearby Brookshire, Clay Development & Construction recently started work on two buildings totaling more than 552,000 sq ft at Uplands Twinwood Business Park.

Since 1999, National Property Holdings has provided sales, leasing, and construction management expertise to its clients and tenants in Texas and Louisiana. Projects include AmeriPort Industrial Park in Baytown, Alamo Junction near San Antonio, and SouthPoint Business Park in Houston.