Humble: Joint Venture to Develop 500K Square Foot Spec Building
Featured Illustration (above): A rendering of the speculative industrial facility that Hunt Southwest Real Estate Development will be building in Humble. Powers Brown Architecture
By Edmond Ortiz
Humble (Harris County)–Dallas-based Hunt Southwest Real Estate Development announced in mid-October it will establish a speculative industrial facility with 509,600 square feet of leaseable space and 11 acres of additional parking or outdoor storage.
According to an Oct. 15 company press release, the facility called 59 Logistics Center will be located at 17440 U.S. Highway 59, a few miles east of George Bush Intercontinental Airport.
It will feature a cross-dock configuration, 36-foot clear height, LED lighting, and an Early Suppression, Fast Response (ESFR) sprinkler system. The space could be leased to a single occupant or divided up among four tenants. Completion of 59 Logistics Center is slated for late 2020.
Houston firm Powers Brown Architecture is the project designer. Powers Brown has experience with a variety of developments across the United States and Canada. Closer to home, the architecture company is involved in Jackson Shaw and Thackeray Partners’ current development of a 19-acre industrial complex in Humble.
Sugar Land-based E.E. Reed Construction is the project’s general contractor. E.E. Reed has been involved in a range of construction projects, including Bayport North Industrial Park in Pasadena, and an office/warehouse complex for retailer Best Buy in Missouri City.
Hunt Southwest has been very active in the Texas industrial market with nearly 5 million square feet of industrial product built or under development since 2015. The company recently signed a full build lease for 300,000 square feet at DFW ColdSpot in Fort Worth, reportedly the first speculative cold storage facility built in the United States.
Hunt Southwest is also on track to complete Interstate Crossing, a 1 million square-foot speculative, industrial complex at the northwest corner of Interstate 35 West and Interstate 820 in Fort Worth this fall.
Hunt Southwest is a joint venture between Unity Hunt and Hunt Southwest. It’s the second real estate enterprise founded by the family of the late Lamar Hunt, the notable businessman who help found the American Football League and Major League Soccer.
“We are bullish on the Houston market, which is one of the highest growth markets in the country in terms of jobs and population growth,” Hunt Southwest Senior Vice President T. Preston Herold said in the release.
“With easy ingress and egress to/from US-59, one of the lowest combined tax millage rates in the Houston metro area, and ready access to an international airport just minutes from our site, we are confident the amenities and location of 59 Logistics Center will generate significant user interest. With a large and growing industrial market and record growth in container volume at its port, Houston is the right place to invest our time and capital to develop and own a speculative, state-of-the-art industrial facility.”
The 59 Logistics Center is among a number of projects that are under development along the U.S. 59 corridor, which is seeing an increase in industrial construction where tenants seek to bolster e-commerce-related shipping transportation and to capitalize on proximity to growth around the Port of Houston.