The Park Air 59 industrial development, a 685,400-square-foot facility, will soon break ground.
HUMBLE, TX—As e-commerce demands soar, so do the clear heights of the industrial buildings. One case in point is Houston's largest spec building which will have the tallest clear height at 40 feet, and is set to break ground at the end of the month.
The Park Air 59 development, a 685,400-square-foot industrial facility, marks the first project between joint venture Ridgeline Property Group and Archway Properties. The joint venture is also teaming with USAA Real Estate to develop the project.
“As we looked at the development of our new Houston speculative building, we wanted to develop a building that created a ton of flexibility for the ultimate end user of our facility. Therefore, we decided to build the first 40-foot clear height spec building in the Houston market,” Greg Thurman, CEO of Ridgeline Property Group, tells GlobeSt.com.
Scheduled for completion in the second quarter of 2019, the cross-dock facility will include an 8-inch slab, 60- by 55-foot column spacing with 65-foot staging bays, ESFR sprinkler system, 153 dock-high doors, four drive-in doors, 180-foot truck court, 242 trailer parking spaces and 332 auto parking spaces. In addition, the site has a favorable Ad Valorem tax rate which was 2.47% in 2017.
Located at Highway 59 and Will Clayton Parkway, Park Air 59 is only two miles from the Houston International Airport. The site also offers proximity to the Fed Ex Ground facility (7 miles), Port of Houston (25 miles), Houston Hobby Airport (27 miles) and Bayport Terminal (40 miles). In addition, the property is just 3 miles from Beltway 8 and 10 miles from Grand Parkway.
“E-commerce users have changed the thought process for industrial developers, as it relates to clear heights in a new spec building,” Thurman tells GlobeSt.com. “E-commerce companies demand more flexibility as it relates to the new building design in order to accommodate these users' sortation equipment as well as the need for higher clear heights, which allows for the installation of mezzanine space inside of the new building. E-commerce users also have created new automation inside their space such as robotics as well as forklifts that now allow these users to stack their product higher. A building that is 40-foot clear creates more cube space for the user of this facility.”
Houston is the fourth largest city and eighth largest industrial market in the United States. It has had the highest population growth of the top 10 largest US cities during the past five years and is home to 26 Fortune 500 companies, according to city business development statistics.
Mark Nicholas, Richard Quarles and Joe Berwick of Jones Lang LaSalle are marketing the property for lease.
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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.
