HOUSTON– September 3, 2024 – Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, has signed Houston’s fastest-growing specialty crating company, Gulf Coast Crating, to lease 432,316 square feet at Portside Logistics Center, a two-building, 1-million-square-foot industrial development in the highly sought-after Southeast Houston (“Port”) submarket. This lease brings Building 1 to 100% occupancy. Building 2, which comprises 258,248 square feet and is divisible to 122,963 square feet, remains available for immediate occupancy.
“We are thrilled to welcome Gulf Coast Crating, Inc. as the second tenant at Portside Logistics Center, taking the overall project to 75% leased,” said Tyler Maner, Managing Director at Stream. “This milestone highlights the strategic value and prime location of the development, offering unparalleled logistics real estate solutions for growing businesses desiring a location near Port Houston.”
Portside Logistics Center, a joint venture development between Principal Asset ManagementSM and Stream Realty Partners, is located at 4838 and 4908 Borusan Road in Baytown, Texas. The premier industrial development provides seamless connectivity to major transportation routes such as the Grand Parkway, Interstate 10, and Highways 225 and 146. These thoroughfares facilitate expedited access to Port Houston’s two major container terminals, Barbour’s Cut and Bayport.
Designed with versatility in mind, Portside Logistics Center offers flexible configurations and was developed to the highest standards. It features speculative office space, LED warehouse lights, a white-boxed interior warehouse, painted columns, caulked control joints, and fully fenced and secured truck courts. Additionally, the project is LEED certified.
“Ownership is excited about the continued success of the project, which benefits from the year-over-year growth in container throughput at Port Houston and our proximity to those terminals,” said Justin Robinson, Executive Managing Director and Partner at Stream. “This most recent lease further underscores the success of the 17-year partnership between Stream and Principal Asset Management, specifically within this Port submarket in Houston.”
Stream Executive Vice President Jeremy Lumbreras and Tyler Maner serve as the leasing agents for the project and helped complete the deal. Justin Robinson heads up the development management alongside Stream Senior Director Tyler Wellborn, Director Craig McKenna, Development Analyst Matthew Sibley, and Financial Analyst Kristina Gibson. Gulf Coast Crating was represented in lease negotiations by Patrick McKiernan and James Mashni with First Houston Properties.
For more information, contact Stream Houston at 713.300.0300.
About Principal Asset ManagementSM
With public and private market capabilities across all asset classes, Principal Asset Management 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 more than 1,100 institutional clients in over 80 markets.1 Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing $553.1 billion in assets1 and recognized as a “Best Places to Work in Money Management”2 for 12 consecutive years.
[1] As of June 30, 2024 [2] Pensions & Investments, “The Best Places to Work in Money Management”, among companies with 1,000 or more employees, December 12 2023.
About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of leasing, investment and development services. This includes tenant and landlord representation, Legendary CX property management, capital markets, investment management and sales, construction, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,400 professionals and now completes annual transactions valued at more than $8.8 billion in office, industrial, retail, healthcare, land, and data center properties. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook.
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