HOUSTON – Stream Realty Partners has purchased 300 acres along Interstate 10 west of Houston to develop Empire West Business Park.
Phase 1 will begin soon and consists of a 1 million square-foot speculative development made up of three distribution buildings.
In addition to speculative construction, Stream plans to pursue build-to-suit projects and to sell parcels to corporate end users.
“After years of market research and strong user demand in west Houston, we believe now is the right time to put this land into production,” said Justin Robinson, Partner at Stream.
The property, located in the City of Brookshire in Waller County, qualifies for substantial tax abatements. Empire West features about 5,000 feet of frontage along Interstate 10 and Highway 90 with dedicated exits to Woods Road. The site sits outside the floodplain and has access to reliable utilities, according to Stream, a national real estate services, development and investment firm with a long-standing presence in Houston.
Empire West Business Park is adjacent to a large Amazon distribution complex and sits in a growing corridor of distribution facilities occupied by users such as Rooms To Go, Goya Foods, Igloo and Bel Furniture.
Interstate 10 locations on Houston’s west side are increasingly attractive as regional distribution hubs because of their convenient access to Austin, San Antonio and South Texas.
“Empire West is ideally positioned to serve the consumption needs of greater Houston’s roughly 7 million residents, which is the primary driver of the local distribution market,” said Matteson Hamilton, Partner at Stream. “The site also gives users a strategic head start to expand distribution regionally to Austin, San Antonio and South Texas.”
The Simpkins Group, a Houston-based commercial real estate development and investment firm that originally conceived the overall plan, will partner with Stream on land development and infrastructure improvements, leveraging their historical knowledge of the site.
Jeremy Lumbreras of Stream will lead leasing efforts for Empire West.
Stream currently leases and manages more than 30 million square feet of industrial space in the Houston market and has developed roughly 6 million square feet of industrial product locally over the past decade.
Founded in 1996, Stream has grown to over 850 real estate professionals with regional offices in Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Fort Worth, Greater Los Angeles, Houston, San Antonio, San Diego and Washington, D.C.
Nov. 21, 2019 Realty News Report. Copyright 2019