Logistics Property Co’s CityPark is Scheduled to Deliver in Q4 2020
HOUSTON--(BUSINESS WIRE)--Feb 27, 2020--
Logistics Property Company, LLC (LPC), a logistics real estate platform focused on the acquisition, development and management of state-of-the-art logistics properties in key North American markets, announces a project update on CityPark Logistics Center (CityPark), a 97-acre master-planned logistics destination within the Southwest submarket of Houston, in conjunction with its participation in REDNews RE Journals Houston Industrial and Logistics Summit.
Situated near the intersection of the Sam Houston Tollway (Beltway 8) and Highway 90, CityPark borders both Harris County and Fort Bend County. Logistics and distribution firms will access the location via northbound and southbound Beltway 8 ramps along its eastern border, as well as by Cravens Road along the site’s western border. Ample vehicular and trailer parking are planned. For tenants desiring freeway visibility, CityPark offers over one-third of a mile of Beltway 8 frontage.
“We’re focused on critically located infill sites,” said Robert Wheless, LPC’s Senior Vice President – South Region. “CityPark offers tenants a premier location, as well as access to Missouri City’s attractive corporate environment.”
“We’ve been quite considered in our approach,” Wheless added. “We’ve carefully studied tenant profiles and intentionally created a master plan and building designs that are specifically tailored to this submarket.”
At full build-out, CityPark will house 1.7 million square feet under seven buildings. Phase I is currently under construction and scheduled for delivery in Q4 2020. It offers tenants 78,527 square feet in a rear load dock configuration, class “A” office improvements and Beltway 8 frontage, along with one 176,319 square foot cross-docked facility and one 199,170 square foot cross-docked facility. Phases II and III will offer larger cross-docked facilities along with larger build-to-suit opportunities.
“The City of Missouri City is committed to the attraction of capital investment, quality development and new jobs,” said Joe Esch, CCIM, Economic Development Director, City of Missouri City.
“We’re excited to work with Logistics Property Company to attract new businesses to our community as tenants of CityPark Logistics Center,” Esch added.
LPC’s partners Method Architecture, FCL Builders and Kimley-Horn have focused on onsite and offsite improvements to make the site ready. JLL’s Houston industrial team led by Senior Vice President, John Talhelm, and Vice President, Kevin Erck, are leasing the property.
“We continue to see robust industrial demand and a need for modern, logistics-oriented space in the greater Houston area,” said John Talhelm, Senior Vice President, Industrial Services, JLL. “CityPark Logistics Center will be the preeminent logistics hub in Southwest Houston and will provide a much-needed multitenant logistics center to the submarket.”
LPC is targeting leading industrial markets across the US with strong population demographics and significant in-place infrastructure.
About Logistics Property Co.
Logistics Property Company, LLC (LPC) is a logistics real estate platform focused on the acquisition, development and management of state-of-the-art logistics properties in key North American markets. The management team of LPC partnered with MIRA Real Estate – part of Macquarie Infrastructure and Real Assets (MIRA) – on the formation of the platform. LPC currently manages properties in key logistics markets including Dallas, Houston, Chicago and Seattle-Tacoma with an estimated end-value of over $1.25 billion. Headquartered in Chicago, LPC has offices in Atlanta, Dallas, Houston, Los Angeles and Seattle. For further information, visit logisticspropco.com or @logisticspropco.
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CONTACT: Media Contact
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KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS TEXAS
INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT RETAIL TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: Logistics Property Co.
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PUB: 02/27/2020 07:00 PM/DISC: 02/27/2020 07:00 PM