Stream Realty Partners’ Houston office has closed four lease transactions totaling over 212,800 square feet at Waypoint Business Park in the third and fourth quarters of 2020. The Stream industrial team of Matteson Hamilton, Justin Robinson and Woody Hillyer represented ownership, a joint venture of 4M Investments and Clarion Partners, LLC, in the transactions.
“We’re thrilled about the tremendous interest in the property and are excited to welcome the newest additions to Waypoint.” said Tripp Rice, partner at 4M Investments. “With the site’s unparalleled location in the heart of Houston’s Southwest Industrial market, combined with the unprecedented high demand it is experiencing, we are confident this momentum will continue into 2021.”
The recent tenant signings included Advanced Wheel Sales’ 65,520-square-foot lease in Building 2; Edvivi Lighting’s 52,210-square-foot lease in Building 3; Rasa Floors’ 25,169-square-foot lease in Building 4 and Texas Plumbing Supply’s 69,865-square-foot lease in Building 2. Delivered in the first quarter of 2020, the project consists of four buildings totaling over 700,000 square feet with the potential for a second phase of construction in the near future.
“There’s no denying that demand remains strong in the Southwest Houston Industrial market, and we expect this to continue as we enter 2021,” said Hamilton, a partner and senior managing director in Stream’s Houston office. “From our perspective, Southwest Houston has been one of the most active submarkets this year. We are confident that despite new supply that has recently delivered in the submarket, Waypoint will continue to out-perform and increase occupancy in the near future.”
The park encompasses 60 acres in southwest Houston’s Missouri City, with excellent ingress/egress to Beltway 8 and Highway 90, and S Gessner Road via Cravens Road. In recent years, this area of Houston has become known as a primary distribution hub for logistics and last-mile companies due to its immediate access to major highways and distribution centers. 496,000 square feet remains available for lease at Waypoint Business Park.
