Northmarq’s Houston Debt + Equity team, led by Warren Hitchcock, arranged a total of $102 million in capitalization on behalf of Christen Vestal and Provident Realty Advisors for the immediate development of Port 99 – Phase II (Nelson Baytown Industrial), a three-building, Class-A industrial park totaling nearly 1.35 million square feet in Baytown, Texas
Situated on approximately 92 acres on Farm to Market Road 2354 in Baytown, Texas, Port 99 – Phase II is located in Southeast (Port) Houston, one of the Houston area’s fastest-growing industrial submarkets. The development will encompass three distribution and warehouse buildings featuring cross-dock and front-load configurations, with additional trailer parking strategically positioned to support both regional and national distribution needs. The project is designed to help address continued demand for industrial facilities to serve the port and the growth along the Grand Parkway, which was recently expanded and completed, connecting Baytown north to The Woodlands.
Northmarq arranged the financing through one of its correspondent relationships on behalf of Provident Realty Advisors, with Junction Commercial Real Estate serving as Provident’s joint venture equity partner for the development.
With the closing of Phase II, Northmarq has arranged more than $125 million in capitalization for Port 99, helping finance over 2.6 million square feet of Class A industrial development in Baytown. The continued expansion of the project reflects the successful execution of the development team and sustained investor demand for high-quality industrial assets.
