Cara Smith | Houston Business Journal
October 9, 2018
Houston-based Triten Real Estate Partners is adding more speculative distribution space near Port Houston to keep up with growing demand for industrial space.
Triten Real Estate Partners broke ground on two buildings totaling more than 330,000 square feet at Bayport North Industrial Park, Triten's Will Hedges told the Houston Business Journal. Two new buildings – the 102,863-square-foot Bayport North Logistics Center I and the 233,190-square-foot Bayport North Logistics Center II – will deliver in early 2019. Those buildings are located at 9701 New Decade Road and 4100 Malone Drive, respectively. While they're being developed to cater to demand for large distribution spaces, the properties can occupy a tenant as small as 20,000 square feet, Hedges said.
"We’re casting a wide net to attract a broad user base," he said.
Triten Real Estate Partners is also underway on a 404,160-square-foot distribution center at 4600 Underwood Road that should deliver in early 2019. The company's targeting companies that cater to Houston's growing population, such as consumer and home goods companies, as prospective tenants. CBRE is leasing that facility.
Costs associated with the developments weren't disclosed.
Demand for space near Port Houston remains strong, and Houston's overall industrial market has held steady throughout 2018. Construction activity is up 80.5 percent year over year, per JLL research, and 76.8 percent of industrial developments broke ground speculatively in the second quarter.
Earlier this year, Triten Real Estate Partners sold Intrepid Business Park, a 270,750-square-foot, two-building industrial property, to an undisclosed buyer for an undisclosed price. The 17.13-acre property is at 5737 and 5747 Brittmoore Road, one block west of Beltway 8, 2 miles south of US Highway 290 and 5 miles north of Interstate 10.