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1/28/16
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California-based Plastic Express has preleased 394.5k sf of Phase II at Port 225, a 1.45 msf, multi-phase industrial development in Pasadena, TX. The project, situated near the Port of Houston, is being built by Clarion Partners.
Phase II consists of three buildings currently under construction with expected completion in second-quarter 2016. Totaling 753.9k sf, the project is now 65 percent preleased. Completed in 2008, Phase I consists of three buildings totaling 697k sf and is 100 percent leased.
Jeff Huberman, Mike Spears and Robert McGee of Lee & Associates represented Plastic Express. The company was founded in 1970 and provides custom-tailored and logistical solutions for the plastics industry as well as non-plastic materials including steel, paper, lumber and other products.
“We view Houston as a long-term growth market,” said Ray Hufnagel, president of Plastic Express. “With the proximity of the Port, Beltway 8 and rail access, Port 225 provides a strategic location to efficiently serve our clients’ needs. In addition, we were drawn to the free-standing facility because it provides the capacity for a fenced truck apron for our trucks and trailers.”
Transwestern’s Brian Gammill and Darryl Noon represented Clarion Partners in the transaction. Houston-based Transwestern Development Company is providing development and construction management services.
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