Insight

Hines' giant industrial park inks first tenants

February 24, 2016

Houston-based Hines has announced 424,000 square feet of preleased space at its giant new industrial park in the fast-growing submarket of southwest Houston.

Known as the Beltway Southwest Business Park, the park is located on 75 acres of land at the northeast corner of Beltway 8 and Fort Bend Toll Road. The business park will accommodate 950,000 square feet of light manufacturing and distribution space once completed, and 734,000 square feet of space currently is under construction, of which 60 percent is now preleased.

Phase I will deliver in June 2016 and will be comprised of two buildings — an 110,000-square-foot, rear-load building and a 240,000-square-foot, cross-dock building.

Dräger, a German medical and safety technology company, has preleased 40,000 square feet of space in the rear-load building. The property will be used to house the company's Houston operations for its safety division. Andre Granello of Cresa Houston represented Dräger in the lease.

Hines also signed two build-to-suit leases in the park totaling 384,000 square feet.

Stafford-based Maintenance Supply Headquarters, which is a national distributor of maintenance supply products in the multifamily industry, will occupy 209,000 square feet of cross-dock building space. The project is currently under construction and will house the company's corporate headquarters.

The new facility is slated to be completed in the third quarter of 2016. Bill Littleton, Bill Byrd, Mike Taetz, and Ryan Byrd of Colliers International Group Inc. represented Maintenance Supply in the lease.

California-based Homelegance Inc. will occupy the remaining 175,000 square feet of the build-to-suit leases. The wholesale furniture maker and distributor will occupy a front-loading building that will support local distribution.

Construction is slated to be completed in the fourth quarter of 2016. Walker Barnett and Casey Ricksen of Colliers International represented Homelegance in the lease.

Jim Foreman, Beau Kaleel and Allison Hall of Cushman & Wakefield of Texas Inc. are the exclusive leasing representatives for the park.

While several large industrial projects have been announced for the area, Hines’ would be one of the largest if it reaches its 950,000-square-foot capacity.