CYPRESS, TX—Construction is complete on Telge 290 Logistics Center, the latest industrial property to showcase the influence of e-commerce in today's uncertain environment. The 207,635-square-foot class-A building is the second joint venture project in Texas between Ridgeline Property Group and Archway Properties.
"Our new building is well suited for the segment of the market that is seeing increased demand, e-commerce and last mile users," says Greg Thurman, CEO at Ridgeline Property Group.
Indeed, Telge 290 Logistics Center has a desirable location for last mile distribution. Located at 14803 Cypress North Houston Rd., the property has access to Highway 290 via Telge Road and is in close proximity to Beltway 8, the Grand Parkway and the Energy Corridor. Downtown Houston and George Bush Intercontinental Airport are approximately 24 miles away.
According to Forbes, US retailers' online year-over-year revenue growth is up 68% as of mid-April, surpassing an earlier peak of 49% in early January. As of April 21, 129% year-over-year growth in US and Canadian e-commerce orders and an impressive 146% growth in all online retail orders have hit the record books.
"During the peak of the COVID-19 stay-at-home orders, e-commerce was expanding and traditional retailers were increasing their reliance on online sales," Ben Allen, partner at Archway Properties, tells GlobeSt.com. "All of this translates to an acceleration of the already growing shift towards online shopping for just about everything. This means more warehousing space for fulfillment centers near major residential areas. As long as business continue to reopen and people continue to go back to work, these trends should continue for the foreseeable future."
The 32-foot clear height front load building has an ESFR sprinkler system, 47 dock-high doors, two drive-in ramps, 180-foot truck court and on-site detention.
"Our design and construction team of Powers Brown and EE Reed performed exceptionally on this project, and we are confident that the growing northwest submarket along with the acceleration of e-commerce will ultimately result in leasing success even in these turbulent times," says Allen.
The entire building is currently available for lease. Leasing agents for the project are Walker Barnett and Ryan Byrd of Colliers International.
"The northwest submarket is the fastest growing section of Harris County for single-family homes with master-planned communities like Towne Lake and Bridgeland attracting residents with generally more disposable income," Allen tells GlobeSt.com. "Bridgeland alone is projected to have over 50,000 residents when completed. Retailers will need warehouses close by the 290 corridor to be able to meet same-day delivery demands in these communities. Telge 290 Logistics Center is perfectly positioned to meet those demands."
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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.
