Bayport Container Terminal expansion in the works
McCarthy Building Cos. has begun construction on a new container yard at Port Houston’s Bayport Container Terminal in Pasadena.
The 45-acre expansion project includes the installation of new electrical duct banks, controls and lighting, updated storm drainage and utility systems, and a roller-compacted concrete pavement section. The project is valued at more than $45 million, McCarthy said.
The expansion supports the growth of container exports of petrochemical, agricultural and other products made in Texas, and imports of consumer goods such as food, clothing and furniture. Completion is planned in summer 2020.
New-home sales in Cane Island jumped last year
Sales of new homes in Katy’s Cane Island community jumped 54 percent in 2018, with luxury homes on smaller lots contributing to the gains.
The 1,100-acre community, a development of Rise Communities, is 1 mile north of Interstate 10 off Cane Island Parkway. It offers homes from the $200,000s to more than $1 million.
New-home sales totaled 196 in 2018, up from 127 in 2017, the developer said.
Half of the community’s sales last year were on 50-, 55- and 60-footwide lots, the developer said.
“Very simply, we listened to what the market wanted — highly amenitized luxury homes on smaller properties,” Cane Island Director of Marketing Lawren Eckhardt said in an announcement.
Two model homes will open later this year: a 60-foot plan by Shea Homes and a 100-foot plan by Partners in Building.
The development’s offerings include the Estates at Cane Island, a gated enclave of homes on half-acre lots. The community opened in 2015.
Industrial buildings going up in La Porte business park
Liberty Property Trust is moving forward with two more industrial buildings at its Port Crossing Commerce Center in La Porte in one of Houston’s hottest submarkets for the sector.
The Malvern, Pa.based real estate investment trust is breaking ground before securing any tenants.
“We have been very pleased with the performance of this park,” the company’s vice president and Houston market leader, Hans Brindley, said in an email. “Since acquiring the property in 2015, we have developed four buildings for approximately 1.2 million square feet, and we have just kicked off two more buildings totaling 416,928 square feet.”
The new buildings, at the southern end of the business park, consist of a 252,543-square-foot building and a 164,385square foot building, both with a 36-foot clear height. Port Crossing Commerce Center is west of Texas 146 between Port Houston’s Barbours Cut and Bayport terminals.
The center’s biggest tenants are MRC Global and Valvoline, which recently leased nearly 80 percent of a 600,630square-foot building at 1302 Wharton Weems Blvd.
In 2018, 4.2 million square feet of industrial space was completed in Houston’s southeast submarket, and 4.3 million square feet of net space was absorbed, according to commercial real estate firm JLL. The new southeast industrial buildings accounted for about 42 percent of the space added across the Houston region in 2018.
In north Houston, Liberty is developing big distribution centers for Grocers Supply and Conn’s HomePlus.
Dallas senior living company chooses its new leader
Capital Senior Living Corp., one of the nation’s largest operators of senior housing communities, has appointed Kimberly S. Lody as president and chief executive officer. The Dallas-based company operates 129 facilities including five locations in the Houston area.
Two local communities that were damaged in Hurricane Harvey reopened in July, following complete renovations. They are the Waterford at Baytown, at 901 W. Baker Road in Baytown, and The Waterford at Deer Park, at 201 McDermott in Deer Park.
NAI Partners chosen to manage Florida portfolio
Agellan Management has selected NAI Partners’ landlord services division to manage its industrial portfolio in the Tampa and Sarasota, Fla., area, totaling just under 2 million square feet.
The deal represents NAI Partners’ first assignment outside of Texas.