Three-Building Project to Deliver 677,000 Square feet of Office and Warehouse Space in 129-Acre Park 8Ninety Business Park
Trammell Crow Company (TCC), one of the nation’s largest commercial real estate developers and investors, and joint venture partner Artis REIT, a Canadian based real estate investment trust, announce they have broken ground on the fifth and final phase of Park 8Ninety in Missouri City, Texas. Phase V is scheduled for completion in early 3Q 2021 and will include three Class A, speculative industrial buildings totaling 676,860 square feet. The 129-acre master-planned business park is located in the heart of Houston’s Southwest Industrial Submarket at the intersection of Beltway 8 and US 90A, offering tenants unmatched access to major thoroughfares throughout Houston.
Designed by Powers Brown Architecture, the project will incorporate state-of-the-art features including 28’-36’ clear heights, 52’ wide column spacing, ample car parking, wide truck courts, trailer parking, and ESFR sprinkler systems. Within Phase V, Building 11 will include 441,360 square feet of cross-dock space with a 36’ clear height and 400’ building depth. Building 11 is distinguished from other large cross-dock buildings in the Southwest Submarket by its freeway frontage and multi-tenant design that allows for direct, separate vehicular access to each corner of the building. Building 12 will offer 178,800 square feet of front-load space with a 32’ clear height and 200’ building depth; Building 12 also includes a 3.13-acre adjacent parcel of land that can be paved to accommodate additional parking or outside storage. Finally, Building 13 is a 56,700-square-foot rear-load with a 28’ clear height and 180’ building depth, offering frontage along Highway 90A.
“Leasing activity in the Southwest Submarket continues to exceed expectations and we look forward to delivering another successful phase of development at Park 8Ninety,” said Jeremy Garner, a principal with Trammell Crow Company’s Houston Business Unit. “The park benefits from highway frontage and exceptional connectivity, affording tenants with premier visibility and an ideal location to service the Greater Houston region.”
Park 8Ninety offers more than 1,500 feet of frontage on Beltway 8 and over 2,000 feet of frontage on US 90A, allowing for multiple ingress/egress options to/from the park and exposure to more than 140,000 cars daily. To date, over 1.1MM SF on industrial space has been developed within the park. The first phase of Park 8Ninety, which was delivered in July 2016, includes 439,916 square feet and is 100% leased; Phase II was delivered in September 2019, includes 576,407 square feet and is currently 72% leased. Phases III and IV were completed in 2019 and 2020 as build-to-suits for a total of 132,991 square feet.
Burton Construction is the general contractor for the project. Alexander G. Reilly, CCIM, SIOR, and Bo Pettit with Boyd Commercial LLC/CORFAC International have been appointed leasing agents for the park.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of September 30, 2020, TCC had $14.8 billion of projects in process and $5.9 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2019 revenue).
