Hines Details Plans for Houston Industrial Park

Hines has acquired nearly 75 acres for Beltway Southwest Business Park, which will accommodate close to 950,000 square feet of light manufacturing and distribution space.

Hines Details Plans for Houston Industrial Park

By Keith Loria, Contributing Editor

Hines has acquired nearly 75 acres of land in southwest Houston, which it will use to develop Beltway Southwest Business Park, a Class A, master-planned business park capable of accommodating close to 950,000 square feet of light manufacturing and distribution space.

Beltway Southwest (rendering courtesy of Hines)

Beltway Southwest (rendering courtesy of Hines)

“Industrial activity in southwest Houston is geared towards local distribution requirements, mostly related to population growth in the Houston MSA,” Charlie Meyer, Hines’ director, told Commercial Property Executive. “The property’s central location within this submarket, with multiple points of access and a high level of visibility afforded by frontage along Beltway 8 and Fort Bend parkway, were probably its most compelling factors.”

The property’s size and shape allows for a large-scale, efficient and market-appropriate building layout, and also allows Hines to offer multiple building types to prospective customers.

Phase I of the development will consist of more than 350,000 square feet and will include a 240,000-square-foot cross dock building featuring 32-foot clear heights and 52-foot by 47-foot column spacing. A 110,000-square-foot rear-load building will offer 28-foot clear heights and 52-foot by 45-foot column spacing.

The buildings will feature a distinctively sleek design while also providing tenants with functional and efficient floor space, all within a controlled business park setting.

“Our goal in Houston is to position our portfolio to see every deal in the market. We have taken a big step in that direction with this project and our ongoing project in north Houston, Pinto Business Park,” Meyer said. “We prefer larger-scale projects that have the capability to allow tenants to grow and expand with us, and also give us the ability to provide a unique environment where tenants can have a positive corporate image and sense of place. We think it is very possible that tenants in one of these business parks may ultimately have a desire for an additional location in the other, because they each serve different parts of town, and each has similar qualities.”

Delivery is scheduled for the first quarter of 2016. Tenant spaces will range from 20,000 square feet to 240,000 square feet. Additional land is available to accommodate build-to-suit projects.

According to Meyer, Houston’s industrial market as a whole remains highly active, and the company is looking to capitalize on demand created by the area’s economic and population growth.

“Much of this activity is occurring in Southwest Houston, so we felt the need to have a presence there,” he said. “This particular acquisition was a unique opportunity in that it required us to assemble multiple land parcels and work through numerous entitlement issues. The land is very well located and has remained dormant due to the difficulty associated with putting all of the pieces together.”