Illinois developer enters houston industrial market

Illinois developer enters houston industrial market

An Illinois-based manager and developer of industrial warehouse and distribution facilities has entered the Houston market with its first project.

International Airport Centers broke ground earlier this month on a 225,360-square-foot warehouse property located at 300 West Airtex Blvd. in North Houston near Interstate 45. It is scheduled for completion later this summer. Ed Frantz and Faron Wiley of CBRE’s Houston office have been hired to lease the project.

“Institutional capital has favored Houston due to the market’s sustained growth and excellent opportunities for business development,” Tom Lynch of CBRE said in a release. “This project is an indication of Houston’s continued demand for Class A warehouse and distribution facilities, particularly those with high clear heights.”

Lynch and John Fenoglio arranged the financing for the transaction.

The Class A cross-dock building, known as The Airtex Distribution Center, will feature 32-foot clear heights, high truck door, trailer parking and mechanical features including T-5 lighting and ESFR sprinklers. It is being designed by Houston-based Powers Brown Architecture and constructed by Houston-basedSatterfield and Pontikes Construction Inc.

“Houston’s continued growth throughout the past few years has made the city one of our top target markets, and the Airtex Distribution Center is a significant step in our advancement within the area,” Larry Krasner, president of IAC, said in a release.

Houston’s industrial market grew in 2013, and will continue to do so, according to a report compiled by Commercial Gateway, the commercial division of the Houston Association of RealtorsRead the full report here.

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