HOUSTON, TX – Jan. 11, 2024 – Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, today announces the successful acquisition of two strategic land sites in Houston’s South and North submarkets. Both properties are slated for speculative industrial development in 2024.
The first parcel, located in the South submarket at the intersection of Kirby Drive and North Spectrum Boulevard, spans 24.4 acres. With proximity to major thoroughfares, including Beltway 8 and Highway 288, and high visibility from Beltway 8, the site’s location and direct access to Greater Houston make it an ideal location for future tenants seeking to establish a presence in the region. Corporate neighbors include Amazon, Target, Penske, Daikin, Memorial Hermann, Mitsubishi and Yokohama.
The second site, situated in the North submarket with frontage along Holzwarth Road, comprises 16.3 acres. Located near the intersection of Interstate 45 and State Highway 99, this parcel is ideal for prospective tenants looking for connectivity and convenience to greater north Houston, including the Woodlands, Spring, Conroe and Tomball jurisdictions. The growing density of these population centers presents a unique demand opportunity in a supply-constrained subset of industrial space.
“In the face of an exceptionally challenging capital markets environment, Stream was able to successfully close on two tactical land acquisitions within a month,” said Justin Robinson, Partner and Executive Managing Director of Stream’s Industrial Development Services division. “While other industry players may be putting their pencils down, Stream is boldly positioning itself for success in anticipation of a market upturn. Our proactive approach and ability to secure these irreplaceable sites affirm our commitment to being first movers, strategically positioned to strike in an increasingly supply-constrained market in the coming years.”
The acquisition of the 24.4 acres on Kirby Drive was handled by Stream’s Industrial Development Services team, including Robinson, Senior Director Tyler Wellborn, Director Craig McKenna and Director Kyle Fletcher. The tract off Holzwarth Road was handled by Grant Wisenbaker, along with Robinson, Wellborn and McKenna.
Both acquisitions will be overseen by Stream’s Investment Management team, which leverages expertise from Stream’s 15 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively manages four discretionary commingled funds, in addition to several joint ventures and wholly-owned assets totaling 32 investments of 21.7 million square feet and approximately $3 billion in assets under management.
For additional information, contact Stream Houston at 713.300.0300.