(HOUSTON) – Hines, the international real estate firm, has entered into an exclusive joint venture with Katy Partners, LTD to develop a 150-acre land parcel in Katy, Texas, into the newest Hines business park, named Pintail Crossing. With frontage on Interstate 10, the Class A, master-planned business park is located at the northwest corner of Interstate 10 and Igloo Road between the Amazon and Igloo distribution centers.
Hines will immediately focus on build-to-suit transactions geared towards regional and local distribution requirements to serve the greater Houston, San Antonio, and Austin markets, which are the fourth, seventh and 11th largest cities in the United States. At completion, Pintail Crossing will be able to accommodate up to 2.2 million square feet of distribution space.
Hines Managing Director Charlie Meyer stated, “Over the past several years we have seen the far west I-10 corridor emerge as a vibrant logistics submarket, with some of the largest user footprints in the Houston MSA locating there. The location offers access to Texas’ major population centers and proximity to a high-quality labor pool. We view Pintail Crossing as the dominant location in the Katy MSA and look forward to expanding the Hines track record of delivering successful built-to-suit transactions for our valued tenants.”
Pintail Crossing will feature exceptional freeway visibility and access, and best-in-class infrastructure. The project is a natural progression that builds on the recent success of Pinto Business Park in north Houston, Beltway Southwest Business Park in southwest Houston and Independence Logistics Park in southeast Houston.
Katy Partners was advised and represented by Andrew W. Sowell, SIOR and Bo Pettit of Boyd Commercial, LLC. Hines has awarded the leasing assignment for Pintail Crossing to Sowell and Pettit.
Sowell, a principal at Boyd Commercial noted, “We are excited to combine Hines’ build-to-suit track record with a well-located, flexible property that has the unique ability to offer tenants and users highly flexible configurations, with buildings ranging from 100,000 square feet to 1.2 million square feet.”
About Boyd Commercial
Since 1977, Boyd Commercial, LLC has provided value-driven real estate services to Houston’s industrial, investment and business communities. Boyd Commercial is a locally owned, entrepreneurial firm with the flexibility to move quickly and they’re globally connected through the high-performing industry affiliations of SIOR and CORFAC International to offer services across the country and worldwide.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 24 countries. Hines has approximately $111 billion of assets under management, including $60 billion for which Hines provides fiduciary investment management services, and $51 billion for which Hines provides third-party property-level services. The firm has 108 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,295 properties, totaling over 422 million square feet. The firm’s current property and asset management portfolio includes 506 properties, representing over 210 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.