PASADENA, TX—The southeast continues to be one of Houston's most active industrial submarkets due to its proximity to the Port of Houston and the nearby petrochemical boom, which provide strategic advantages for the submarket and its users. In the first quarter of 2017, the submarket recorded more than 1.8 million square feet of positive net absorption, according to JLL research.
“Driven by the strength of the downstream sector and the Port of Houston, the southeast submarket continues to thrive with significant leasing activity and strong net absorption. Consistent demand in the submarket has kept vacancy and availability below metro-wide averages,” Eli Gilbert, senior vice president and director of research, JLL, tells GlobeSt.com. “We expect the submarket will maintain its favorability with tenants throughout the year.”
One recent example of favorability with tenants is the 68,833-square-foot industrial renewal by Wrist USA Inc. at East Belt Business Park, 1485 East Sam Houston Parkway. Built in 2007, the 118,000-square-foot class-A industrial warehouse building is located in Houston's southeast industrial submarket.
Features of the building include cross-dock configuration, 24-foot ceiling heights, frontage along East Sam Houston Parkway, ample parking and wide truck courts. In addition to its direct access to Sam Houston Parkway, it is near Highway 225, the main thoroughfare to the Port of Houston.
JLL's Ryan Fuselier and Travis Secor negotiated the terms on behalf of the tenant. CBRE's Faron Wiley represented the owner, Morgan Stanley.
“Wrist USA was thoughtful and comprehensive in evaluating possible locations for their operations,” said Fuselier. “After an extensive search, the company determined this location continues to be optimal for serving new and existing customers.”
Based in Pasadena, TX, Wrist USA Inc. is a general ship supplier and offers services including purchasing, consolidation, and distribution of provisions and various stores required by vessels.
PASADENA, TX—The southeast continues to be one of Houston's most active industrial submarkets due to its proximity to the Port of Houston and the nearby petrochemical boom, which provide strategic advantages for the submarket and its users. In the first quarter of 2017, the submarket recorded more than 1.8 million square feet of positive net absorption, according to JLL research.
“Driven by the strength of the downstream sector and the Port of Houston, the southeast submarket continues to thrive with significant leasing activity and strong net absorption. Consistent demand in the submarket has kept vacancy and availability below metro-wide averages,” Eli Gilbert, senior vice president and director of research, JLL, tells GlobeSt.com. “We expect the submarket will maintain its favorability with tenants throughout the year.”
One recent example of favorability with tenants is the 68,833-square-foot industrial renewal by Wrist USA Inc. at East Belt Business Park, 1485 East Sam Houston Parkway. Built in 2007, the 118,000-square-foot class-A industrial warehouse building is located in Houston's southeast industrial submarket.
Features of the building include cross-dock configuration, 24-foot ceiling heights, frontage along East Sam Houston Parkway, ample parking and wide truck courts. In addition to its direct access to Sam Houston Parkway, it is near Highway 225, the main thoroughfare to the Port of Houston.
JLL's Ryan Fuselier and Travis Secor negotiated the terms on behalf of the tenant. CBRE's Faron Wiley represented the owner,
“Wrist USA was thoughtful and comprehensive in evaluating possible locations for their operations,” said Fuselier. “After an extensive search, the company determined this location continues to be optimal for serving new and existing customers.”
Based in Pasadena, TX, Wrist USA Inc. is a general ship supplier and offers services including purchasing, consolidation, and distribution of provisions and various stores required by vessels.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
