DEAL OF THE WEEK
Bayou Bend Business Park fills up in area’s southwest market
C ME Wire and Cable has leased the final space in the Ba you Bend Business Park, a two-building development in Houston’ s emerging southwest industrial market.
Stream Realty, in partnership with Thackeray Partners, broke ground at 8520 South Sam Houston Parkway West in 2015. It subsequently signed deals with Niagara Bottling for 207,000 square feet, Goodman Manufacturing for 30,000 square feet and American Furniture Rent- als for 38,000 square feet.
The102,780-square-foot lease with C ME brings the project, whichconsists of a 310,000-square-foot, cross-dock building and a 68,000-square-foot, front-load building, to full occupancy.
Matte son Hamilton of Stream representedthe landlord, while Bucky Win field of C res a Partners represented the tenant.
Northwest Houston, home to about a third of space in the local industrial market, has long been the submarket of choicefor distribution companies that want to be near households that use the products they handle, Hamilton said. That market is tight, with a vacancy rate of 3.8 percent, so developers have been building warehouse sin southwest Houston, which is not much farther away fromawestern intersection that’s being called the “center” of Houston from a residential standpoint.
“We track the center of the population of Houston just outside of I-10 andthe Beltway,” Hamilton said.
“With that in mind, southwest provides a great logical alternative to northwest Houston.”
Thevacancy rate is 6.7 percent in southwest Houston, compared with 5.3 percent for the Houstonarea overall.
Other developers are taking note of the need for space onthe southwestside.
TrammellCrowCo.and Art is RE IT are developing the Park 8 Ninety business park at U.S .90 A and Beltway 8.
Hines is developing Beltway Southwest at Belt way 8 and the Fort Bend Toll way.
Crow Holdings Industrial is building Stafford Grove at West Airport Boulevard and Murphy in Stafford.
ConorCommercial Real Estate and USA A Real Estate Co. are building Gateway Southwest at Belt way 8 and U.S .90 in Missouri City.