Chicago-based CenterPoint Properties acquired two newly built distribution facilities in the tight South Belt industrial market at 11217 Telephone Rd. in Houston, Texas. The fully leased warehouses, totaling 192,318 square feet, were built in 2024.
Rives Nolen, CenterPoint’s Central Region senior vice president of investments, lauded the trade as a truly unique opportunity to acquire assets that combine very efficient metro and port access for distributors with desirable features such as Beltway frontage, a 1.34-acre outdoor storage yard, and shallow-bay configurations.
The Telephone Rd. portfolio is about a half-hour drive from the Port of Houston’s Bayport and Barbours Cut terminals, Downtown Houston, and the Texas Medical Center. In addition to the IOS component, the shallow bay facilities include parking for 318 cars to support the shift work of five tenants in total. Other features include 28-foot clear heights, 4000-amp power, 52 dock-high and four drive-in doors, and 130-foot truck aprons.
According to JLL, robust industrial development across Houston and positive net absorption in 2025 have helped the market maintain its ranking as one of the country’s strongest industrial markets. South Belt is among the most active Houston submarkets, with vacancy well below Houston as a whole, thanks in part to its strategic port-centric location, access to major transportation corridors, and high user demand.
JLL Capital Markets brokered the transaction.
CenterPoint’s Houston portfolio has grown to 17 assets, totaling more than 2.5 million square feet.
