HOUSTON, TX – December 5, 2023 – Stream Realty Partners has signed a Houston-based logistics company to lease space at Portside Logistics Center, a 1-million-square-foot industrial development in the highly sought-after Southeast Houston (“Port”) industrial submarket.
Tigerhawk Logistics has signed a lease to occupy 135,285 square feet of Building 2 at 4908 Borusan Road. The deal brings the building to 52 percent leased. Tyler Maner, Managing Director of Stream Houston’s Industrial division, and Jeremy Lumbreras, Senior Vice President for the Houston Industrial division, serve as the leasing agents for the project and helped complete the deal. Tigerhawk was represented in lease negotiations by Savills Senior Managing Director Grant Hortenstine and Assistant Director Pearce Martens.
Stream, a national commercial real estate firm offering an integrated platform of services, developed two Class AA industrial buildings as part of a joint venture with Principal Asset Management.
“Stream and Principal Asset Management are very excited to have recently completed Portside and to quickly welcome our first tenant to the park,” said Justin Robinson, Executive Managing Director and Partner at Stream. “Tigerhawk’s desire for quality product close to Port Houston is exactly why we partnered to build this project and we are excited to be a part of their continued success.”
Portside Logistics Center is located at 4838 and 4908 Borusan Road in Baytown, Texas. The speculative industrial development offers immediate access to Grand Parkway (State Highway 99), Interstate 10, Highway 225, and Highway 146, allowing expedited access to Port Houston’s two container terminals – Barbour’s Cut and Bayport.
“As a logistics company working with a variety of clients, we had certain space and design-related needs that Portside Logistics Center meets perfectly,” said Ruben Sanchez, Co-Founder and Chief Operating Officer of Tigerhawk Logistics. “We were overly impressed with the thoughtful planning and execution that Stream Realty and Principal Asset Management demonstrated in the development of this project and we’re proud to call it our new home.”
Portside Logistics Center offers multiple configurations and size ranges for prospective tenants with a 760,364- square-foot cross-dock building (divisible to 195,900 square feet) and a 258,248-square-foot front-load building (122,963 square feet available). Both buildings were developed to the highest standards, featuring speculative office space, LED warehouse lights (two per bay), a white-boxed interior warehouse, painted columns, caulked control joints, and fully fenced and secured truck courts. The project is seeking LEED certification.
Stream’s Maner and Lumbreras serve as leasing agents for the project, while Robinson coordinates with Colin Frye, asset manager at Principal Asset Management to oversee the investment management of the project. Over the past 15 years, Principal Real Estate, the dedicated real estate team at Principal Asset Management, has been involved in the development of almost $14.5 billion of commercial real estate projects, including over $5.5 billion of industrial assets.
Building 1 currently has 760,364 square feet available, while Building 2 has 122,963 square feet remaining available for lease. For additional information, contact Stream Houston at 713.300.0300.
About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of services including leasing, Legendary CX property management, tenant and landlord representation, capital markets, investment management and sales, development, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas and operates 15 core offices in markets that cover areas including Alexandria, VA; Arlington, VA; Atlanta; Austin; Boca Raton; Charleston; Charlotte; Chicago; Colorado Springs; Dallas; Denver; Fort Lauderdale; Fort Worth; Greenville, SC; Houston; the Inland Empire; Irvine; Los Angeles; Miami; Nashville; Orange County; Phoenix; Raleigh-Durham; Reston, VA; San Antonio; Tysons; Washington, D.C.; and West Palm Beach. Since 1996, Stream has grown to more than 1,350 professionals and now completes more than $6.9 billion annually in office, industrial, retail, healthcare, land, and data center transactions. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, Twitter, and Facebook.
About Principal Asset ManagementSM
With public and private market capabilities across all asset classes, Principal Asset ManagementSM and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for its clients. Its dedicated real estate investment team manages or sub-advises $95.5 billion in commercial real estate assets.[1] The firm’s real estate capabilities include both public and private equity and debt investment alternatives.
Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing $506.9 billion in assets[1] and recognized as a Top 10 “Best Places to Work in Money Management[2]” for 11 consecutive years. Learn more at www.PrincipalAM.com.
[1] As of September 30, 2023
[2] Pensions & Investments, “The Best Places to Work in Money Management”, among companies with 1,000 or more employees, December 2022.
