A 156,483-square-foot speculative distribution development in northwest Houston that recently received LEED certification is now fully leased with the signing of a single tenant.
KHD Group, a furniture vendor and supplier that started its business with the VECELO brand, will occupy Stream Realty Partners’ Raceway Northwest Distribution Center at 9707 Fairbanks North Houston Road. Stream, a national commercial real estate firm offering an integrated platform of services, announced the completion of the warehouse in March.
Stream Houston Senior Vice Presidents Jeremy Lumbreras and Boone Smith were instrumental in identifying and securing the tenant for the development. Kyle Fletcher, a Houston-based Director on Stream’s Industrial Development Services team, led the development and construction management of the facility.
“This milestone for Raceway Northwest Distribution Center illustrates the power and vision of Stream’s integrated platform–investment management, development, brokerage, construction management, and property management,” said Justin Robinson, Executive Managing Director and Partner. “Given this submarket’s historical attributes of low vacancy and high tenant demand, we entered this project confident in our mission and are extremely pleased with the outcome.”
Raceway Northwest Distribution Center was constructed to the most modern distribution development standards, including a front-load configuration with 36-foot clear height, 25 dock-high doors, and 109 vehicle and 22 trailer parking spaces. The development delivered in move-in condition with speculative office space, a white-boxed interior warehouse, LED warehouse lights, and a fully fenced and secured truck court.
The facility, which offers frontage along Fairbanks North Houston Road, provides immediate access to the Sam Houston Tollway, State Highway 249, and U.S. Highway 290. It is located near Houston’s population center, providing a unique offering in the market. Corporate neighbors include Amazon, The Home Depot, Panasonic, Advance Auto Parts, UPS, and Target.
Raceway NW Distribution Center is owned and overseen by Stream Realty Partners. Bringing over 170 years of combined experience, the Industrial Development Services division at Stream sources and executes development opportunities across a growing platform and offers a full suite of development-related services. Stream’s Investment Management Platform leverages expertise from Stream’s 15 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively owns 32 investments of 21 million square feet and approximately $3.1 billion in assets under management.
