Stream Realty Partners has completed Portside Logistics Center, a 1-million-square-foot industrial project in the highly sought-after Southeast Houston (“Port”) industrial submarket.
The national commercial real estate firm offering an integrated platform of services developed the Class AA, two-building industrial project in a joint venture with Principal Asset Management. Immediate occupancy is now available for users from 122,971 square feet to over 1 million square feet.
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.
“We are thrilled to announce the completion of this exciting project with our longtime partners at Principal,” said Justin Robinson, Executive Managing Director and Partner at Stream. “Together, we have a 16-year track record of successful execution in this submarket, and we are excited to continue that at Portside. Given the growth in container throughput at Port Houston and our proximity to the terminals, we believe we are perfectly positioned to capture the burgeoning demand for logistics real estate in this area.”
Portside Logistics Center offers multiple configurations with an expandable 760,000 square-foot cross-dock building and a flexible 260,000-square-foot front-load building which will offer a 40-foot clear height and 36-foot clear height, respectively. Both buildings were developed to the highest standards, featuring speculative office space, LED warehouse lights, a white-boxed interior warehouse, and fully fenced and secured truck courts. The project is seeking LEED certification.
“This project underscores Principal Asset Management’s ongoing commitment to serving the Houston market with best-in-class logistics real estate,” said Colin Frye, Asset Manager with Principal Asset Management. “We are very excited about Portside’s future, especially coupled with the opportunity to grow our presence at the doorstep of the booming Port Houston.”
The project broke ground in the third quarter of 2022. Corporate neighbors include Ikea, Walmart, The Home Depot, Niagara Bottling, and Floor & Decor.
Kyle Fletcher, a Director in Stream’s Houston office, assisted in the development management of Portside. Robinson, Senior Director Tyler Wellborn, and Director Craig McKenna provided oversight on the ground-up development of the facility.
Tyler Maner, Managing Director of Stream’s Houston industrial division, and Jeremy Lumbreras, Senior Vice President for the Houston industrial division, will serve as leasing agents for the project.
About Stream Realty Partner
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 1,200 professionals and now completes more than $5.8 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 $97.5 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 $525.2 billion in assets1 and recognized as a Top 10 “Best Places to Work in Money Management3” for 11 consecutive years. Learn more at www.PrincipalAM.com.
