JACKSON-SHAW PURCHASES 45 ACRES IN HOUSTON’S BOOMING NORTHWEST SUBMARKET TO BUILD INDUSTRIAL BUSINESS PARK
HOUSTON (Feb. 11, 2020) – Jackson-Shaw, a national real estate development company headquartered in North Texas, has purchased 45 acres in Houston at the intersection of FM 1960 and Bobcat Road to build an industrial business park, Nexus Park NorthWest.
“The continued expansion of e-commerce and direct-to-consumer business models is driving demand for industrial facilities in Northwest Houston,” said Grant Pearson, vice president of development at Jackson-Shaw. “There is an increased demand from retailers and wholesalers for industrial and logistics locations close to residential density and growth. This infill location will serve the regional population growth in Northwest Houston and capture last-mile demand in this submarket.”
At total build-out, the project will have 476,640 square feet of Class-A industrial space, in four buildings and will be able to accommodate tenants from 15,000 square feet to 200,000 square feet. The business park has unparalleled access to Beltway 8, U.S. Highway 249 and U.S. Highway 290.
“Northwest Houston is and always has been the premier submarket in Houston for industrial development and tenant activity. We feel very fortunate to have located a tract of this size in Northwest Houston within two miles of Beltway 8, U.S. Highway 249 and U.S. Highway 290,” said Michael Foreman, director at Cushman-Wakefield. “E-commerce businesses will have two large delivery hubs, UPS and FedEx, within close proximity truly making this the nexus of industrial space in Houston,” added Beau Kaleel, managing director at Cushman-Wakefield.
The land was assembled from multiple landowners and is platted into a single lot. Construction is scheduled to commence March 2020 with substantial completion estimated for December 2020.
Diamond Realty Investments, Inc. is the equity partner, Burton Construction is the general contractor for the project, with Powers Brown as the project’s architect, Kimley-Horn as the civil engineer and Comerica as construction financier. Beau Kaleel and Michael Foreman of Cushman-Wakefield are managing the leasing assignment for the development.
NEXUS PARK NORTHWEST OVERVIEW AND RENDERINGS
Jackson-Shaw, a national real estate development company headquartered in North Texas, has 48 years of experience developing diversified real estate properties mixing practical experience with vigorous entrepreneurship. The company has developed more than 62 million square feet since its founding which include a variety of project types, including hospitality, industrial and residential development. Diverse markets Jackson-Shaw currently develops include Fort Worth, Dallas, Houston, Denver, Las Vegas, Scottsdale, Phoenix, Jacksonville and Washington, DC. Visit www.JacksonShaw.com.
Randy E. Pruett, Cooksey Communications
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