Hines Lands Tenant in New South Houston Industrial Park – German Firm Dräger Leases Space
HOUSTON – Dräger, a German equipment manufacturer, has leased space in the new Hines industrial park on Beltway 8 in south Houston.
André Granello, Managing Principal, and Ray Lopez, Senior Advisor, with Cresa represented Dräger in the lease transaction. Jim Foreman with Cushman and Wakefield represented the developer, Hines.
Dräger leased 37,651-SF in Hines’ Beltway Southwest Business Park, which is a 75-acre, one million-square-foot industrial park located at the northeast corner of Beltway 8 and Fort Bend Toll Road. The first phase of the project, a 350,000-square-foot tiltwall concrete construction building, will be complete in early 2016.
The Hines Beltway Southwest Business Park is one of a spate of new industrial development along Beltway 8 and Highway 90 of the south side of Houston.
“Dräger is an excellent addition to our growing tenant roster at Beltway Southwest and we feel that their premier brand is a perfect fit for our project,” says Charlie Meyer, Director with Hines. “We look forward to beginning our relationship with them and believe our project’s prominent location combined with quality architecture and excellent visibility from the beltway will help them to further enhance their image and presence in the Houston area.”
Dräger, which makes breathing and protection equipment, gas detection and analysis systems, and non-invasive patient monitoring technologies, sought to consolidate its operations while modernizing and upgrading its facilities. Dräger relocated several out-of-state personnel to Houston and consolidated two existing locations in Sugar Land and Pasadena as part of its continued commitment to grow market share in Houston.
As part of the company’s overall strategic assessment, the German-based company evaluated proximity to labor and client densities, traffic patterns, amenities, and proximity to the Port. After considering a build-to-suit and several possible purchase alternatives, Dräger elected to enter into a lease with Hines in its new premier business park in southwest Houston.
Phase I of the Hines project will include a 240,000-square-foot cross dock building featuring 32’ clear height and 52’ by 47’ column spacing as well as an 110,000-square-foot rear load building featuring 28’ clear height and 52’ by 45’ column spacing. The property boasts excellent access to all Houston submarkets via Beltway 8, Southwest Freeway, Fort Bend Tollway, and Highway 288.
Dräger is one of the first tenants to commit to the Beltway Southwest Business Park project and it is anticipated that they will move into their new facility in late summer.