CBRE announced that two new tenants will be joining the Underwood Port Logistics Center and Bayport North Logistics Center I, absorbing over half a million square feet of industrial space in Houston’s Southeast submarket.
A global e-commerce provider has signed a lease for 402,648 square feet at Underwood Port Logistics Center, located at 4600 Underwood Road in Deer Park, Texas. Frederick Trucking has secured 102,863 square feet of bulk distribution space at Bayport North Logistics Center I, located at 9701 New Decade Drive in Pasadena, Texas.
The landlord, an affiliate of Triten Real Estate Partners, was represented by Joseph Smith, Patrick Rollins, Jason Dillee and Andrew Jewett of CBRE. Dedrik Pharis, with CBRE’s Inland Empire, California office, represented the tenant at the Underwood Port Logistics Centerand Chris Haro with NAI represented Frederick Trucking.
“Both tenants recognized the value in having a modern distribution center within immediateproximity to the Port of Houston,” says Will Hedges with Triten Real Estate Partners. “Thesestate-of-the-art facilities will offer both tenants a prime facility to meet the growing fulfillment needs of their business.”
According to CBRE Research, at the close of Q3 2020, the Southeast industrial submarket had a vacancy rate of 7.6%.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
