Hunt Southwest Expands into Houston Market with Development of 500,000 SF Spec Industrial Facility along Highway 59
Development to offer prime highway frontage, favorable tax rates, and proximity to Intercontinental Airport
Dallas-Fort Worth – October 15, 2019 — Dallas-based Hunt Southwest Real Estate Development has its eye on the thriving Houston industrial market with the development of a new, speculative industrial facility, 59 Logistics Center, located in the northeast Houston suburb of Humble and just minutes from George Bush Intercontinental Airport (IAH).
The facility, located at 17440 Highway 59, will have up to 509,600 square feet of leasable space, with nearly 11 acres for extra parking or outside storage. Additionally, the facility, which has premium highway frontage will feature a cross-dock configuration, 36-foot clear height and an ESFR sprinkler system. Completion of 59 Logistics Center is scheduled for the fourth quarter of 2020.
“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,” said Hunt Southwest Senior Vice President T. Preston Herold. “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.”
Hunt Southwest has an extensive track record in the industrial market in Texas with almost five million square ft of industrial product built or under development in the state since 2015. A full build lease was recently signed for 300,000 SF at DFW ColdSpot in Fort Worth, believed to be the first speculative cold storage facility constructed in the U.S. Hunt Southwest also plans to deliver Interstate Crossing, a one million square ft speculative, industrial facility located at the northwest quadrant of I35W and I -820 in Fort Worth in November 2019.
Jason Dillee and Nathan Wynne of CBRE in Houston will represent Hunt Southwest in the lease-up of the facility. Powers Brown is the project architect, and E.E. Reed Construction is the project’s general contractor.
About Hunt Southwest Real Estate Development
Hunt Southwest Real Estate Development is a Dallas-based, full-service real estate development company with a focus on industrial and cold storage real estate development in the Texas market.
Hunt Southwest is a joint venture between Hunt Midwest and Unity Hunt. It is the second real estate development enterprise founded by the Lamar Hunt family, following the success of Hunt Midwest, which was established in 1985. The Hunt family business is a diverse portfolio of entities involved in real estate, sports/media, energy/resources, and private equity investments. Other marquee entities include the Kansas City Chiefs, FC Dallas Soccer Club, Toyota Stadium, Chicago Bulls and United Center.
For more information on 59 Logistics Center, please click HERE.
59 Logistics Center Rendering: 59 Logistics Center 1