HOUSTON--California-based Plastic Express has pre-leased 394,489 square feet in Phase II atPort 225 in Pasadena, near the Port of Houston, from Clarion Partners, confirms Transwestern.
Phase II consists of three buildings currently under construction with expected completion in second-quarter 2016. Totaling 753,864 square feet, the project is now 65 percent preleased. Completed in 2008, Phase I consists of three buildings totaling 697,000 square feet and is 100 percent leased. At completion, Port 225 will consist of six distribution buildings totaling 1,450,864 square feet.
"Port 225 Phase I and II has a very flexible building design which has been well received by the tenants that serve the southeast submarket," Transwestern's Brian Gammill told GlobeSt.com. "The unique ability to accommodate a variety of space needs has allowed this class A distribution project to be a submarket leader and it has performed very well in all phases of the market cycle."
Plastic Express was founded in 1970 and provides custom-tailored and logistical solutions for the plastics industry as well as non-plastic materials including steel, paper, lumber and other products.
"We view Houston as a long-term growth market," says Ray Hufnagel, president of Plastic Express. "With the proximity of the Port, Beltway 8 and rail access, Port 225 provides a strategic location to efficiently serve our clients' needs. In addition, we were drawn to the free-standing facility because it provides the capacity for a fenced truck apron for our trucks and trailers."
Gammill and Darryl Noon, also with Transwestern, represented the building owner, Clarion Partners, in the transaction. Jeff Huberman, Mike Spears and Robert McGee of Lee & Associates represented Plastic Express. Houston-based Transwestern Development Co. is providing development and construction management services.
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