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May 21, 2019
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Transwestern Development Co and J.P. Morgan Asset Management Acquire 60 Acres Near Sam Houston Race Park

2/15/19

A venture between Transwestern Development Co (TDC) and institutional investors advised by J.P. Morgan Asset Management has acquired a 60-acre, infill site near the Sam Houston Race Park in Northwest Houston. The project, called Sam Houston Distribution Center, is located off Fairbanks N. Houston Road between Fallbrook Dr and Taub Rd.

Sam Houston Distribution Center will include three Class A distribution buildings totaling 833.7k sf with additional land for added trailer storage or an industrial build-to-suit opportunity. The first three buildings will include: a 200.2k sf, front-load facility with a 32-foot clear height; a 494.8k sf, cross-dock facility with a 36-foot clear height; and a 138.7k sf, front-load facility with a 32-foot clear height.

“Northwest Houston is a core national industrial market as well as Houston’s most dynamic and strongest submarket,” said Ben Newell, Senior Vice President in TDC’s Logistics Group. “The massive infrastructure improvement to Highway 290 ensures the long-term continual growth of the Northwest submarket and serves as a catalyst for exponential commercial and residential development along the corridor.”

At 149 msf, the Northwest industrial submarket provides access to a deep labor pool, educated and skilled work force, outstanding transportation system, growing population and desirable quality of life. With the delivery for Sam Houston Distribution Center expected in 2020, the park will benefit from the $1.8 bil expansion of Hwy 290 slated for completion by the end of this year, as well as the infrastructure improvements for surrounding industrial development underway.

With continued demand from high-credit tenants and institutional capital, this area is one of the fastest-growing stretches within the Northwest submarket. As of fourth-quarter 2018, the Northwest submarket has accounted for 4.4 msf of new deliveries and 1.9 msf of net absorption, according to market research from Transwestern Commercial Services.





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