CBRE announced that two new tenants will be joining the Underwood Port Logistics Center and Bayport North Logistics Center I, absorbing over half a million square feet of industrial space in Houston’s Southeast submarket.
A global e-commerce provider has signed a lease for 402,648 square feet at Underwood Port Logistics Center, located at 4600 Underwood Road in Deer Park, Texas. Frederick Trucking has secured 102,863 square feet of bulk distribution space at Bayport North Logistics Center I, located at 9701 New Decade Drive in Pasadena, Texas.
The landlord, an affiliate of Triten Real Estate Partners, was represented by Joseph Smith, Patrick Rollins, Jason Dillee and Andrew Jewett of CBRE. Dedrik Pharis, with CBRE’s Inland Empire, California office, represented the tenant at the Underwood Port Logistics Center and Chris Haro with NAI Partners represented Frederick Trucking.
“Both tenants recognized the value in having a modern distribution center within immediate proximity to the Port of Houston,” said Will Hedges with Triten Real Estate Partners. “These state-of-the-art facilities will offer both tenants a prime facility to meet the growing fulfillment needs of their business.”
According to CBRE Research, at the close of Q3 2020, the Southeast industrial submarket had a vacancy rate of 7.6 percent.