833,720 SF, Multitenant Distribution Center Scheduled to Break Ground Spring 2019
February 12, 2019
Houston – Transwestern Development Co. (TDC®) and its partner, institutional investors advised by J.P. Morgan Asset Management, today announce the acquisition of a 60-acre infill site near the Sam Houston Race Park in Northwest Houston. The project, called Sam Houston Distribution Center, is located off Fairbanks N. Houston Road between Fallbrook Drive and Taub Road. Sam Houston Distribution Center will include three Class A distribution buildings totaling 833,720 square feet with additional land for added trailer storage or an industrial build-to-suit opportunity.
“Northwest Houston is a core national industrial market as well as Houston’s most dynamic and strongest submarket,” said Ben Newell, Senior Vice President in TDC’s Logistics Group. “The massive infrastructure improvement to Highway 290 ensures the long-term continual growth of the Northwest submarket and serves as a catalyst for exponential commercial and residential development along the corridor.”
At 149 million square feet, the Northwest industrial submarket provides access to a deep labor pool, educated and skilled work force, outstanding transportation system, growing population and desirable quality of life. With the delivery for Sam Houston Distribution Center expected in 2020, the park will benefit from the $1.8 billion expansion of Highway 290 slated for completion by the end of this year, as well as the infrastructure improvements for surrounding industrial development underway.
“The strategic geographic location, high barriers to entry, and exceptional transportation networks keep tenants flocking to Northwest Houston,” said Newell. “Sam Houston Distribution Center is well-positioned to capitalize on the existing momentum in the area, a less cumbersome permitting process, and lower taxes.”
With continued demand from high-credit tenants and institutional capital, this area is one of the fastest-growing stretches within the Northwest submarket. As of fourth-quarter 2018, the Northwest submarket has accounted for 4.4 million square feet of new deliveries and 1.9 million square feet of net absorption, according to market research from Transwestern Commercial Services.
Phase 1 of construction will include:
- a 200,200-square-foot, front-load facility with a 32-foot clear height;
- a 494,800-square-foot, cross-dock facility with a 36-foot clear height; and
- a 138,720 -square-foot, front-load facility with a 32-foot clear height.
Founded in 1978, Transwestern has developed office, industrial, multifamily and healthcare projects across the United States. Since 2000, the Transwestern enterprise has completed projects valued at more than $6.2 billion.
ABOUT TRANSWESTERN DEVELOPMENT CO.
Transwestern Development Co. (TDC®) is a diversified business with expertise in all commercial property types. The firm executes projects through a variety of venture and contract structures and has been creating commercial landmarks for itself, its partners and valued customers throughout the U.S. since 1978. TDC operates as a principal, investing capital alongside its institutional equity partners in the development of speculative and build-to-suit projects, and as a fee developer for clients and user-owners. Part of the integrated Transwestern enterprise, the firm capitalizes on the market insight and operational expertise of its affiliates, which include a diversified real estate services firm with 34 U.S. offices and a real estate investment management company. For more information, visit transwesterndevelopment.com.
ABOUT J.P. MORGAN GLOBAL ALTERNATIVES
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than $135 billion in assets under management and over 800 professionals (as of September 30, 2018), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from 23 offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives. For more information: www.jpmorganassetmanagement.com.