Brent Wood, EastGroup's vice president in Houston, tells GlobeSt.com that work will begin in two months. The building will be situated on a 63-acre site located along Beltway 8 near the George Bush Intercontinental Airport. Delivery is anticipated for October or November.
The undertaking is the first phase to what is planned to be at least a three-building project, says Wood. There is no timeframe to start the other structures.
The groundbreaking will come close to coinciding with completion of a 126,000-sf industrial project at 10570 Bissonet in south Houston. The Jackson, MS-based EastGroup expects construction will wrap up in early May. Techway Southwest I is designed to be a metropolitan distribution center. KW Construction is the general contractor. Techway Southwest I is being built on 23 acres that Wood says has enough room for another 100,000 sf of industrial space.
EastGroup and Insight Realty are partnering on the industrial developments, both of which have been designed by Bob Mitchamore of Architects Plus in Houston.
Wood says EastGroup is courting freight forwarders as tenants for the airport project as well as other providers that need to be close to air service. The project, he says, is a good alternative for tenants who have been displaced by the cargo facility construction on the airport campus.
The south Houston submarket in the Beltway 8 corridor is a good match for the REIT's objectives to locate projects in niche areas. The region is growing residentially, but more importantly there is an apparent shortage of distribution space. Northwest Houston, on the other hand, is saturated with industrial product, says Wood.
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