HOUSTON – International Airport Centers will develop the 225,360-square-foot Airtex Distribution Center. The class A warehouse property will be located at 300 West Airtex Blvd. in North Houston.    

This purchase is indicative of Highland Park, IL-based IAC's growth plans.

“We are focused on expansion through continued acquisition of existing facilities as well as the development of new, high-quality facilities,” says Larry Krasner, IAC's president and CIO. “Houston's continued growth throughout the past few years has made the city one of our top target markets and the Airtex Distribution Center is a significant step in our advancement within the area.”

Ground broke earlier this month, with construction scheduled to compete by late summer. The property will feature 32-foot clear heights, high truck door and loading dock ratios and modern mechanical features including T-5 lighting and ESFR sprinklers. The total development costs are not being disclosed.

Those involved with the transaction say it reflects Houston's growth and continued demand for class A warehouse and distribution facilities.

“Houston is the fastest growing big city in the country in terms of both population and job growth, and companies need additional warehouse space in Houston to meet that demand,” says Faron Wiley, first vice president in CBRE's Industrial Brokerage group. “Additionally, this site offers superior freeway access and general mobility that is unique in comparison to other available locations along Interstate 10 and Highway 290.”

Powers Brown Architecture designed the building, which is being constructed by Satterfield & Pontikes and Pontikes Development.

Tom Lynch and John Fenoglio of CBRE arranged financing for this 100% equity transaction.

Ed Frantz and Wiley of CBRE will handle the leasing of the project. The property could host up to four tenants, but Wiley expects fewer. Lease rates will be $4.68 per-square-foot net with a $4.00 per-square-foot tenant improvement allowance.

“The ideal tenant would be a national credit company looking to expand its service and distribution in Metro Houston,” Wiley says.