North Park 34 is roughly 14 miles from downtown Houston. Picture courtesy of Stream Realty Companions
Arden Group subsidiary Arden Logistics Parks has employed Stream Realty Companions as unique leasing agent for North Park 34, a 865,000-square-foot industrial park in Houston. Arden purchased the 34-building portfolio in November 2021 from HPI, for slightly below $80 million, in response to CommercialEdge information.
Stream Realty Companions Senior Vice President Boone Smith, Senior Affiliate Abraham Richardson and Affiliate Meg Zschappel are the leasing brokers in cost, whereas Analyst Jax Rawlinson may also present leasing help.
Since buying it, the proprietor applied a capital enchancment program, which led to 436,000 sq. ft being leased. Upgrades included new exterior paint on all buildings, new energy-efficient lighting, inside renovations for 21 suites and the set up of a drought-tolerant system to cut back water consumption.
The repositioned North Park 34 is on the northwest nook of Beltway 8 and Hardy Toll Street. It consists of suites that vary from 1,500 to 40,000 sq. ft. Buildings have clear heights between 13 and 17 ft, semi-dock and dock-high loading configurations and on-site property administration.
The Class B, multi-tenant industrial park gives quick access to interstates 45 and 69. The property is 6 miles from George Bush Intercontinental Airport and 14 miles from downtown Houston.
Houston maintains regular industrial provide
In September, Stream Realty Companions, along with Principal Asset Administration, accomplished Portside Logistics Middle, a two-building, 1 million-square-foot logistics middle in southeast Houston’s Port Industrial submarket. Stream may also market the property for lease.
Triten Actual Property Companions additionally lately accomplished a 357,570-square-foot, two-building industrial undertaking in Houston. Fairbanks Northwest Distribution Middle is nineteen miles from downtown Houston and accessible for lease, with Cushman & Wakefield as unique leasing agent.
Because of its coastal location and entry to key industries and Southern distribution routes, Houston maintains its common place for brand spanking new industrial improvement. In response to a latest CommercialEdge report, Houston had 17.2 million sq. ft of business area below development as of October, representing a 5.0 p.c enlargement of inventory. In-place rents had been up 4.1 p.c year-over-year, which was beneath the nation’s 7.6 p.c—a possible results of new stock being introduced on-line.
