Build-to-suit industrial project breaks ground for Fortune 50 company in Missouri City
Chicago-based Logistics Property Co. has started construction on the fourth industrial building within its 98-acre City Park Logistics Center in Missouri City after securing abuilding a lease from an undisclosed Fortune 50 tenant. The 151,200-square-foot build-to-suit warehouse will be completed in mid 2023. The design team involved in the project are Powers Brown Architecture, Pinnacle Structural Engineers, KCI Technologies, COPE Engineering and Nathan Billiot (civil).
City Park Logistics Center contains three recently completed buildings totaling 54,000 square feet at the northwest corner of Beltway 8 and U.S. 90.
“We are pleased to kick off a long-term relationship with an industry leader within this strategic location,” said Mark Redlingshafer, vice president and senior development manager, South Region, at Logistics Property Co.
With the addition of the build-to-suit, City Park consists of five tenants and is approximately 75 percent leased, according to Logistics Property. Next, the company expects to begin construction on a speculative, 215,000-square-foot building at City Park in 2023. The building is being marketed for lease. The park's final phase, with frontage along Beltway 8, will accommodate 600,000 square feet and is being marketed as a build-to-suit.
