Stream Realty Partners has completed the final buildings in the 3.3 million-square-foot Bay Area Business Park near Port Houston on behalf of owner Principal Real Estate Investors.
The park is located at 10619 Red Bluff Road in Pasadena, Texas, which was approximately 20 percent preleased prior to completion.
The final phases consisted of three speculative buildings totaling 1.3 million square feet that were approximately 20 percent preleased at delivery.
In 2007, Principal and Stream broke ground on the original 137 acres with the intention of building a few speculative buildings in multiple phases. Phase one was 1.2 million square feet across three buildings and delivered in 2008. Phase two was 850,000 square feet across four buildings and delivered in 2016. Principal purchased an additional 95 acres in 2019 to include a third phase of its already successful project. Phase three consists of three buildings totaling 1.3 million square feet. All three phases com
