DEER PARK, TX--Clay Development & Construction Inc. has purchased 79.57 acres on Borusan Road and FM 1405 in the Cedar Port Industrial Park in Baytown to develop Cedar Port Distribution Park. The seller was TGS Cedar Port Partners LP.
Clay Development & Construction will build a total of 1.5 million square feet in three rail-served, dock-high distribution facilities on the site. Construction on the first building, Cedar Port Distribution, Phase I at 4830 Borusan Road, will begin in January 2016. Completion is scheduled for August 2016.
"The economic drivers in this market are the low price of natural gas, steady growth in the petrochemical and plastics industries, and the demand for newly built, rail-served, accessible distribution space near the Ship Channel," says Robert Clay, president of Clay Development & Construction. "With the recent Panama Canal and Port of Houston expansions, both global and national companies are looking for large warehouse/distribution space in this market. The Borusan Road location offers both rail and public barge dock access in addition to immediate access to the Highway 99, Highway 146, Interstate 10 and the port."
John Simons and John Feruzzo of NAI Houston represented the seller in the transaction. Charlie Christ of Clay Development & Construction will handle sales and leasing for Cedar Port Distribution Park.
Cedar Port Distribution, Phase I will be a 501,020-square-foot building on 26.4 acres. The interior will feature 32-foot clear-height ceilings, 50-by 52-foot column spacings and 60-foot loading bays. Cedar Port Distribution Park provides a regional water detention program and ESFR fire sprinkler system and is located in the professionally managed, deed-restricted Cedar Port Industrial Park.
Clay Development & Construction Inc. is a Houston-based, commercial real estate development and construction firm specializing in industrial build-to-suit facilities for sale or lease.
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.
