A joint venture between Stream Realty Partners and Principal Real Estate Investors will develop Portside Logistics Center, a 1 million-square-foot speculative industrial facility that will be located near Port Houston, Texas.
Portside Logistics Center will consist of a 760,000-square-foot, cross-dock building and a 260,000-square-foot, front-load building with 40- and 36-foot clear heights.
Construction is set to begin in the third quarter and to be complete in late 2023.
Port Houston is growing, creating one of the nation’s hottest markets for distribution-building construction and industrial real estate investment. Vacancy is expected to tighten further and is on pace to fall in line with the five-year quarterly average of 6.6 percent later this year. With a robust tenants-in-the-market pipeline, demand should remain ahead of supply over the next 12 months, driving strong performance and continued rent growth, according to JLL.
Leasing activity moved
