Carpenters Logistics Center
Class A logistics center located near the Port of Houston.
Location
Product Type
Timeline
Project Completion – 2025
Overview
TCC, an affiliate of CBRE Balance Sheet (“CBRE”) and an affiliate of South Atlantic Services, Inc. (“SAS”) formed a joint venture to purchase approximately 52 acres of land in Channelview, Harris County, Texas to develop a Class A, 40’ clear, 752,134 square foot speculative cross-dock building (“Building 1”) with five acres of contiguous industrial outdoor storage. As part of the Project, the JV will develop certain public infrastructure improvements including a new public roadway, a stormwater detention pond, water lines, and sanitary sewer facilities. Following completion of the Public Infrastructure, the JV will dedicate 3 acres of improved right-of-way to Harris County and six acres of improvements (detention pond and wastewater treatment plant) to Harris County Improvement District No. 15 (“HCID 15”), a local municipal utility district. The JV will ultimately retain 43 acres. Concurrent with the development of the Project, TCC will provide development services to SAS for a single, Class-A industrial building totaling 132,166 square feet (“Building two”), on 13 acres located immediately adjacent to the Property. Building two will be owned and occupied by SAS and will be excluded from the JV.
The Project is located two miles east of the Interstate 10 (“I-10”) and Beltway 8 (“BW 8”) East interchange and is 16 miles northwest of the Port of Houston Barbours Cut Container Terminal in Houston’s booming southeast industrial submarket (“Southeast Submarket”). The Property is located in a highly developed, in-fill location surrounded by a combination of light and heavy industrial facilities. The Property is located in an area that has an ample supply of competitive, blue-collar labor, making the Property a prime location for distribution and manufacturing users.
This Property has excellent proximity and access to the Port of Houston complex (“POH”), which is experiencing historic container volume growth and is continuing to drive tenant demand in the Southeast Submarket. The POH is ranked first in the U.S. in terms of foreign tonnage handled, fifth in the US in terms of container volume (twenty-foot equivalent units), and it is the largest port on the Gulf Coast, handling 73% of Gulf Coast container traffic. The POH ship channel is in the process of being widened and deepened as part of Project 11, a multi-phased, one-billion-dollar project that is expected to be complete in 2025.
