MISSOURI CITY, TX—Under the assumption that one can never have too much industrial, especially in the underserved areas such as the expanding southwest section, another speculative industrial project is springing up. In response, Ridge, the industrial development arm of Transwestern Development Co., acquired 29 acres at the corner of Beltway 8 and Highway 90.
Ridge plans to break ground in May 2018 on the 477,355-square-foot industrial project, Southwest Commerce Center. Transwestern is leasing the project with an expected delivery in early 2019. Located at 611 S. Cravens Rd., the cross-dock project will have a 32-foot clear height, 129 dock doors, 58 trailer parking spaces and 275 car parking spaces.
“We are excited to move forward with Southwest Commerce Center and provide high-quality space to an underserved area of Houston that is rapidly expanding,” said Ben Newell, senior vice president at Ridge. “Future tenants will benefit from immediate access to Beltway 8 and exceptional municipal partners, Missouri City and Fort Bend County.”
Southwest Commerce Center is within 16 miles of Houston's most populated areas, including the Galleria, Texas Medical Center and downtown. Situated between George Bush Intercontinental Airport and the Port of Houston, the site is near major logistics and retail tenants including FedEx's new 300,000-square-foot facility and Best Buy's recently announced 550,000-square-foot logistics facility. Additional tenants in the area include Allied Fitting, American Tire, Bella Fresh, Ben E. Keith, Bimbo Bakeries, CME Wire & Cable, Lufkin Automation, Maintenance Supply, Men's Warehouse, Niagara Water and Red Wing Shoes.
Houston's industrial market remains one of the healthiest in the country, fueled by strong population growth and increased port activity.
“Houston's industrial vacancy has been below 6% since 2010,” Newell tells GlobeSt.com. “Few, if any, other markets have had such a low vacancy rate for nearly eight consecutive years.”
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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.
