Brookshire: Stream Sells 1 Million SF

In Brookshire, Stream Realty Partners has completed the sale of three fully leased buildings totaling more than 1 million SF in its massive Empire West development in Brookshire.

NorthPoint Development, a privately held real estate firm based in Kansas City, Mo., purchased Empire West Buildings 1, 3, and 8, plus a 16.6-acre outdoor storage yard.

Building 1 totals 124,700 SF at 117 Empire West Blvd., Building 3 has 163,144 SF at 32045 US Highway 90, and Building 8 has 750,775 SF at 100 Empire West Blvd.

PROJECT ROUNDUP: The Texas Industrial Revolution

The buildings are part of a 10-building, 3,969,811-SF industrial portfolio developed by Stream between 2021 and 2025 as a key logistics and distribution hub for the Houston region. Situated on 300 acres about 35 miles west of downtown Houston, Empire West has drawn companies such as Pro Pac, Tesla, H-E-B, and Ferguson Enterprises. The portfolio has 5,000 feet of frontage along both Interstate 10 and Highway 90.

“The level of investor engagement around Empire West speaks to the quality of the asset and the strength of West Houston’s industrial market,” said Matteson Hamilton, Executive Managing Director and Partner at Stream. “From best-in-class design to a roster of nationally recognized tenants, this portfolio embodies what institutional investors are seeking in today’s environment: scale, stability, and opportunity for long-term value creation.”

The deal follows another big transaction. An Ares Real Estate fund recently purchased more than 1 million SF of industrial buildings at three properties across north and northwest Houston from an affiliate of Blackstone.

The Empire West property represents a significant expansion to NorthPoint’s Houston holdings, which include its Houston Tradeport development inside Loop 610 and NorthPoint 90 Logistics Center in northeast Houston.

Stream’s Capital Markets team led by Seth Koschak and Matteson Hamilton worked with Eastdil Secured on the Empire West sale. The deal is part of more than $1 billion in assets sold by Stream in the last 12 months.

“Empire West demonstrates the work of an incredible cross-functional Stream team, from land sourcing to development, leasing, capital markets, and tenant relationships,” said Mustafa Ali, Portfolio Manager at Stream. “What began as raw land in 2019 is now a fully leased, institutional-grade industrial campus totaling nearly four million sq ft and attracting world-class users. This transaction underscores the strength of Houston’s West submarket, the quality of the tenants on campus, and our team’s ability to execute through cycles. Empire West has set a new benchmark for industrial placemaking in Houston, and we’re proud to deliver exceptional results for our investors.”

In North Houston, Stream recently started work on Summit Grove Business Park, a 217,000-SF industrial development on Holzwarth Road near the Grand Parkway and Interstate 45.