Despite challenges the commercial real estate industry has faced in the last few months, Stream Realty Partners is maintaining a positive outlook on industrial fundamentals within the Houston market.
Since the start of the fourth quarter, Stream, a national real estate services, development, and investment company, has completed 14 transactions of more than 48,000 square feet. The leases ranged from 48,910 square feet to 1,039,060 square feet, resulting in more than 3.6 million square feet of industrial leasing transactions in the Houston area.
“We are very encouraged by the deal velocity within our portfolio but are maintaining vigilance while guiding our trusted customers through lease transactions,” said Stream Houston Managing Director Tyler Maner. “The past nine months have been very dynamic as many macro-economic headwinds become a reality. Fortunately, we have the best clients that are willing to get creative to get deals done.”
Ten clients were represented, and most Houston submarkets saw significant leasing activity.
- A third-party logistics company leased 48,910 square feet at Central Green Business Park. A recycling company leased 55,826 square feet at Volta Logistics Center. Both are in the North submarket.
- In the Northwest submarket, an audio/visual supplier expanded to 323,650 square feet at Prologis Park Jersey Village, an HVAC manufacturer leased 385,730 square feet at Highland Grove Distribution Center, and a construction supply company leased 125,919 square feet at Guhn Road Distribution Center, all in the Northwest submarket.
- A retailer leased 221,438 square feet at Waypoint Business Park in the Southwest submarket.
- In the Southeast submarket, a third-party logistics firm expanded its lease to 480,480 square feet, and a trucking firm leased 240,240 square feet, both at Bay Area Business Park.
- A freight forwarder leased 115,706 square feet at 8850A Market St. in the East submarket.
- A fiberglass materials company leased 69,680 square feet at Railwood Industrial Park in the East submarket.
- An automotive supplier, food and beverage provider, and retailer leased a total of 1,467,021 square feet at Empire West Business Park in the West submarket.
- An automotive supplier leased 72,083 square feet at Park Ten Distribution Center in the West submarket.
“As markets evolve, Stream continues to provide clients with a competitive advantage through unsurpassed market knowledge and legendary service,” Maner said. “While facing change and uncertainty in the market, the team’s dedication and commitment to keeping our heads down and simply pushing to get deals done culminated in our best quarter of 2022. We look forward to building upon our fourth quarter success and carrying this momentum into the new year on behalf of our customers.”