HOUSTON – Panattoni Development Company and its equity partner, MetLife Investment Management, have started construction on a new 642,994-square-foot warehouse at 10575 Red Bluff Road in Pasadena, just outside the Port of Houston.
JLL brokers Richard Quarles, Jarret Venghaus and Mark Nicholas are handling leasing for the development partnership.
Named Bayport South, the building is slated for completion in the first quarter of 2020.
The cross-dock facility will be capable of operating as a foreign-trade zone and is strategically located in southeast Houston, approximately three miles from Bayport Container Terminal and roughly nine miles from Barbours Cut Container Terminal.
“Bayport South represents an outstanding opportunity to continue our objective to develop strategically located projects in Houston’s key industrial submarkets,” said Todd King, partner at Panattoni Development. “The nearby Port of Houston container facilities, the Ship Channel, and the petrochemical complex are all critical national infrastructure components that make this area a strong long-term investment.”
Bayport South will offer a clear height of 36 feet and more than 330 car parking spaces.
According to JLL research, Houston’s Southeast Industrial Submarket, where Bayport South is located, remains in high demand, driven by strong net absorption, active construction and low vacancy rates.
Aug. 14, 2019 Realty News Report. Copyright 2019.
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