Top Industrial Leases Recognized for Houston
Prominent industrial leases signed by Meiborg, Builders FirstSource and Dixie Cullen Interests negotiated by top dealmakers from Cushman & Wakefield, Transwestern Real Estate Services and Colliers are among the second quarter industrial leases recognized by CoStar.
As big ticket items involving sizable investments, commercial property transactions often have a wider impact within the community. CoStar will recognize the largest leases completed each quarter and the dealmakers who made them happen in their respective markets.
Here are the Houston industrial leases selected as the second quarter 2022 winners of the CoStar Power Broker Quarterly Deal Awards:
TOP LEASE: 1211 Rankin Road, Houston, TX
Space Leased: 392,480 SF
Deal Type: New Lease
Size: 392,480 SF
Tenant: Meiborg
Brokers Involved: Jim Foreman and Allison Bergmann of Cushman & Wakefield represented the landlord.
Deal Commentary: Meiborg Brothers leased 392,480 square feet of industrial space in building II of the Fairway North Logistics Park in Houston. Meiborg provides freight services for businesses with logistics options including dry van, refrigerated, tanker, flatbed, hazmat, LTL and more.
TOP LEASE: 16245 Port NW, Houston, TX
Space Leased: 263,581 SF
Deal Type: Renewal
Size: 268,940 SF
Tenant: Builders FirstSource
Brokers Involved: Brian Gammill and Darryl Noon of Transwestern Real Estate Services represented the landlord. John Nicholson of Colliers represented the tenant.
Deal Commentary: Builders FirstSource, a national manufacturer and supplier of building materials, is staying in its 171,850-square-foot space in the Port Northwest Industrial Park, which is owned by Teachers Insurance and Annity Association of America. The manufacturing supplier renewed its lease at 16245 Port NW Building 6 and also expanded into an additional 91,745 square feet at 16235 Port NW Building 7.
TOP LEASE: 750 Lockwood Drive, Houston, TX
Space Leased: 239,376 SF
Deal Type: New Lease
Size: 239,376 SF
Tenant: Dixie Cullen Interests
Brokers Involved: Christopher Haro and John Simons of NAI Partners represented the landlord. Micheal Palmer of CBRE represented the tenant.
Deal Commentary: Dixie Cullen Interests, an industrial warehousing and storage provider, agreed to take all 239,376 square feet at 750 Lockwood in one of the largest industrial leases in the second quarter. DCI will occupy the the space in the third quarter.
TOP LEASE: 12510 W. Airport Blvd., Sugar Land, TX
Space Leased: 199,978 SF
Deal Type: New Lease
Size: 199,978 SF
Tenant: Cubework
Brokers Involved: Darryl Noon and Nicholas Peterson of Transwestern Real Estate Services represented the landlord. Jessica Chen of Kander Pacific represented the tenant.
Deal Commentary: Cubework, one of the fastest-growing industrial workspaces in the United States, is moving into the four-star property at Sugar Lands Crossroads. The building is 2 miles from Interstate 69 and less than 20 miles from downtown Houston.
TOP LEASE: West Ten Boulevard, Katy, TX
Space Leased: 195,974 SF
Deal Type: New Lease
Size: 195,974 SF
Tenant: Isikel
Brokers Involved: Nicholas Peterson, John Ferruzzo, Brian Gammill and Darryl Noon of Transwestern Real Estate Services represented the landlord. Matt Delahoussaye and Anthony Gonzales of Commercial Market Exchange represented the tenant.
Deal Commentary: Isikel, a leading manufacturer and distributor of medical supplies, is moving into the newly constructed industrial building at Stonelake West Ten. The company will occupy the entire 195,974-square-foot property owned by Stonelake Capital Partners and developed by Transwestern Development Co.
TOP LEASE: 4300 Malone Drive, Pasadena, TX
Space Leased: 195,438 SF
Deal Type: New Lease
Size: 365,727 SF
Tenant: Excargo Services
Brokers Involved: McCay Dickson of Carson Companies represented the landlord. David Munson of Boyd Commercial, LLC/CORFAC International represented the tenant.
Deal Commentary: Excargo Services provides warehouse solutions for major importers and exporters to and from the Port of Houston and area rail terminals in Texas and the bordering states. It has agreed to lease 195,438 square feet in the multi-tenant building within the Bayport North Industrial Park owned by Carson Cos.
TOP LEASE: 13300 John F Kennedy Blvd., Houston, TX
Space Leased: 194,439 SF
Deal Type: New Lease
Size: 524,160 SF
Tenant: Walmart
Brokers Involved: Faron Wiley and Joseph Smith of CBRE represented the landlord.
Deal Commentary: Originally developed by Clay Development and recently sold to Janko Group in December 2021, Kennedy Greens Distribution welcomes in Walmart as its first major e-commerce retailer. The building is a four-star cross dock distribution facility that includes 109 exterior docks and a 36-foot clear height.
TOP LEASE: 4129 Greenshadow Drive, Pasadena, TX
Space Leased: 165,864 SF
Deal Type: New Lease
Size: 265,552 SF
Tenant: Wrist USA
Brokers Involved: Jim Foreman and Brooke Forrest of Cushman & Wakefield represented the landlord.
Deal Commentary: Wrist USA, a leading ship and offshore supplier of marine provisions and stores, has leased 165,864 square feet in Pasadena, Texas. Park 225, an industrial distribution site, offers a Class A space that is under construction and expected to be finished by the end of 2022.
TOP LEASE: S. Sam Houston Parkway W, Missouri City, TX
Space Leased: 150,000 SF
Deal Type: New Lease
Size: 150,000 SF
Tenant: Pepsi
Brokers Involved: Beau Kaleel and Brooke Forrest of Cushman & Wakefield represented the landlord.
Deal Commentary: Pepsi has opted to move into this 150,000-square-foot industrial building in Missouri City, Texas. This four-star proposed space has established freeway exits and will have Pepsi anchor the park for 10 years.
TOP LEASE: 10619 Red Bluff Road, Pasadena, TX
Space Leased: 137,280 SF
Deal Type: New Lease
Size: 251,680 SF
Tenant: Neo Chair
Brokers Involved: Woody Hillyer and Tyler Maner of Stream Realty Partners represented the landlord. Chase McAteer of Oxford Partners represented the tenant.
Deal Commentary: Neo Chair, a company that manufactures and distributes chairs across the world, has leased 137,280 square feet of industrial space in Pasadena, Texas. The building that Neo Chair is moving into is a Class A building that sits within the Bay Area Business Park. This property is one of the three warehouses that Neo Chair owns within the United States.