(HOUSTON) – Hines, the international real estate firm has acquired approximately 75 acres of land in southwest Houston located at the northeast corner of Beltway 8 and Fort Bend Toll Road to develop Beltway Southwest Business Park, a Class A, master-planned business park capable of accommodating approximately 950,000 square feet of light manufacturing and distribution space.
The development of Phase I, which consists of more than 350,000 square feet, is underway with construction set to begin in July of 2015. Phase I will include a 240,000-square-foot cross dock building featuring 32’ clear height and 52’ by 47’ column spacing as well as a 110,000-square-foot rear load building featuring 28’ clear height and 52’ by 45’ column spacing.
Designed by Architects Plus, the buildings will feature a sleek, distinctive design while also providing tenants with functional and efficient floor space, all within a controlled business park setting.
“Beltway Southwest Business Park is a natural progression for our team, and builds on the success we have experienced with Pinto Business Park in north Houston,” said Hines Director Charlie Meyer. “Many of the tenants we have done business with in north Houston have additional locations or have expressed a desire to have another location in the southwest part of town. We feel that our reputation for providing highly functional, architecturally distinctive and flexible buildings at extremely competitive rates fills a void within the submarket, and we feel fortunate to control a large, well-located land site in a submarket that is known for its high barriers to entry.”
Located at the northeast corner of Beltway 8 and Fort Bend Tollway, Beltway Southwest Business Park provides prominent visibility and convenient access to major highways for all distribution needs. Beltway Southwest Business Park is exclusively represented for leasing by Jim Foreman, Beau Kaleel and Allison Hall of Cushman & Wakefield of Texas, Inc.
Delivery is scheduled or the first quarter of 2016 with tenant spaces ranging from 20,000 square feet to 240,000 square feet, with additional land to accommodate build-to-suits and end users.
About Cushman & Wakefield
Cushman & Wakefield was founded in New York, N.Y., on October 31, 1917, by brothers-in-law J. Clydesdale Cushman and Bernard Wakefield. Expanding first throughout the United States and then globally, today Cushman & Wakefield has approximately 250 offices in 60 countries, employing more than 16,000 professionals who deliver quality services to its diversified global client base.
Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services. In 2014, Hines completed over $8 billion in transactions on behalf of its investment management clients. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired more than 1,000 properties, totaling over 339 million square feet. The firm’s current property and asset management portfolio includes 511 properties, representing over 176 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
Beltway Southwest Business Park