Layne Crossing will have six industrial warehouses in the Greens Crossing Business Park.
HOUSTON—According to JLL research, the north industrial submarket has captured 28% of total market leasing activity year-to-date, with 4.1 million square feet of leasing so far this year. Within this demand, tenants are seeking various-sized space configurations.
One development seeks to stem this demand by offering a variety of building configurations and sizes. Layne Crossing will be a flexible development that can accommodate and support users from any number of industries.
Dallas-based Crow Holdings Industrial purchased 45 acres within Greens Crossing Business Park for the development of the 530,000-square-foot industrial project. The seller was Dallas-based Sarofim Realty Advisors.
Layne Crossing is set to break ground in January and will deliver in the fourth quarter of 2019. It will encompass six industrial warehouse buildings including two front-load buildings, two rear-load buildings, one cross-dock building and one side-load building. The buildings will range from 56,400 to 174,000 square feet. Additional features of the project will include large truck courts, trailer storage and clear heights from 24 to 32 feet.
Situated in the north industrial submarket, the development will offer frontage along Beltway 8 and direct access to Interstate 45. Additionally, the project is proximate to Bush Intercontinental Airport.
Cory Driskill and Travis Covington represented Crow Holdings Industrial.
“The addition of Layne Crossing to our portfolio exemplifies Crow Holdings Industrial's commitment to developing quality assets in strategic locations. Layne Crossing offers multiple points of access to two major freeways, excellent branding opportunities with frontage on Beltway 8 and I-45, and the opportunity for companies to locate their business in a high-quality well-maintained business park,” said Driskill.
JLL's Richard Quarles and Bubba Harkins represented Sarofim Realty Advisors in the transaction.
“Houston's industrial market is seeing strong and sustained demand from users across a broad spectrum of sizes,” Quarles tells GlobeSt.com. “Layne Crossing is positioned to serve tenant requirements in the range of 15,000 to 175,000 square feet.”
Quarles, along with Mark Nicholas, Geoff Perrott and Joe Berwick, will market and lease the project for Crow Holdings.
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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.
