290 Northwest Business Center will house a spec class-A 136,651-square-foot distribution center.
CYPRESS, TX—E-commerce, oil services support and increased goods tonnage moving through the Port of Houston have supported steady activity in the industrial sector. And, due to substantial residential growth as well as strong demographics, this area is extremely well-suited to accommodate the distribution needs of not only the Houston area but other surrounding markets as well.
As a result of that demand, privately held Molto Properties recently broke ground at a site in Northwest Houston for the construction of a 136,651-square-foot distribution center. 290 Northwest Business Center, located at 21420 Northwest Fwy., will house a spec class-A tilt-wall facility on approximately 8.65 total acres.
“Our building is a unique asset to the market in Northwest Houston,” said Chad Parrish, vice president at Molto Properties–Houston. “It offers Highway 290 frontage with excellent access from each direction: a rarity in what is a very tight land market in Northwest Houston.”
The distribution center is expected to be completed in August 2019. The facility can accommodate one or two tenants and will feature a 32-foot clear height, ESFR sprinklers, 2,586 square feet of spec office space, 121 parking spaces, and a loading area with 30 dock-high and two drive-in doors.
Reed Vestal, Taylor Schmidt and Robert McGee with Lee & Associates–Houston will be leading the leasing or selling efforts of 290 Northwest Business Center.
“We are continuing to see industrial distribution activity increase across Houston and Northwest Houston continues to attract many of those tenants,” McGee tells GlobeSt.com. “Population growth continues to move west and northwest, which makes these areas continually attractive to tenants for many reasons.”
Molto Properties is looking to expand extensively in the Houston market with Parrish leading its efforts.
“We will continue to focus on distribution centers in and around Houston that will give our clients a logistical advantage,” says Todd Naccarato, managing principal at Molto Properties.
The industrial market continues to show robust demand throughout the metro. In response, more than 15 million square feet of construction is underway, more than double the amount this time last year, or a 115.3% increase, according to a report by NAI Partners. In addition, the recovering energy sector is strengthening the Houston manufacturing industry with the 2019 outlook the brightest it has been in years, according to the Greater Houston Partnership's 2019 Houston Employment Forecast.
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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.
