Two Speculative Class A Industrial Buildings Totaling 660,000 Square Feet to be Built
Trammell Crow Company (TCC), one of the nation’s largest commercial real estate developers and investors, and joint venture partner, Clarion Partners, a leading U.S. real estate investment manager, announce they have broken ground on the second phase at Fallbrook Pines Business Park in Northwest Houston, TX.
Scheduled for completion in November 2018, Phase II will include two Class A, speculative industrial buildings totaling 660,073 square feet. Designed by Powers Brown Architecture, Phase II will include a 291,606-square-foot cross-dock building and a 368,467-square-foot cross-dock building, both of which are divisible. Additional project features include 32-foot clear heights, 52-foot wide column spacing, extra trailer parking/outside storage, ample car parking, wide truck courts and ESFR sprinkler systems.
“We are very pleased with the success of the first phase and are confident tenants will continue to be attracted to the park’s true northwest location, proximity to major highways, and distinguished business park environment highlighted by unique architecture, new roads, and mature trees,” said Jeremy Garner
, a Principal with TCC’s Houston office
. “Fallbrook Pines Business Park is the premier location for industrial tenants seeking new distribution space in Northwest Houston.”
Fallbrook Pines is a 127-acre business park strategically located near the intersection of Beltway 8 and Highway 249 on Fallbrook Drive in the heart of Houston’s Northwest Industrial Submarket. Multiple options for access to and from Beltway 8 exist including Fallbrook Drive, Fairbanks North Houston Drive and Gessner Road. The first phase totaling 709,000 square feet was completed in October 2015 and is currently 100 percent leased to seven tenants. The project’s design is versatile and targets a wide range of tenants including consumer goods distributors, e-commerce companies, and light manufacturers. Eighteen acres within the park remain available for a build-to-suit project or future phase.
Rosenberger Construction is the general contractor for the project. Faron Wiley, Senior Vice President, and Joseph Smith, Senior Vice President, with CBRE’s Houston office have been appointed leasing agents for the project.
About Clarion Partners
Clarion Partners, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 36 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, DC. With $44.7 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to more than 300 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
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 more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. As of December 31, 2017, TCC had $6.8 of projects in process and $3.8 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. 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 its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), 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 2017 revenue). For more information, visit www.TrammellCrow.com.