Greystar Completes First Logistics Project in Houston
“The Mill marks the first of many milestones to come for Greystar and our development pipeline as the demand for logistics continues to grow in Houston,” said Brian Herwald, Managing Director of Development at Greystar. “We look forward to leveraging our local expertise and decades of experience operating in high-demand U.S. markets to bring a unique logistics platform to Houston. Houston is a major distribution hub, and cargo ship operators are choosing the Port of Houston over coastal ports to avoid congestion and potential delays.”
The Mill is Greystar’s first logistics project in Houston and is located along Highway 249. Some of the facility’s attributes include a 220-foot building depth, 185-foot truck court, 32-foot clear height, 33 dock-high doors, and 12 trailer stalls.
Greystar has also started construction on Beltway 35 Business Park, a 91-acre logistics development along the South Belt of Houston, comprised of five modern logistics facilities totaling approximately 1.3 million square feet. Phase I is underway with three buildings totaling 590,000 square feet and is expected to be completed by September of 2023.
“Our Beltway 35 project is targeting distributors near the port as well as south and southwest Houston with products such as energy-related and medical supplies, construction materials, e-commerce products, and consumer goods. We are excited to be able to accommodate a variety of tenant sizes from 50,000 to over 500,000 square feet,” said Tyler Williams, Senior Director of Development at Greystar. “The project should benefit from having superior access to the Beltway and from the tremendous population growth within the nearby cities of Sugarland and Pearland. This local growth will continue to propel the demand for logistics space in the area.”
The $1 billion Houston Port infrastructure project currently underway to widen and deepen the ship channel should be a key driver of logistics projects for Greystar in Houston. The port set another record for 2022 with container volumes of 4 million TEUs, a 14 percent increase over 2021, which almost doubled the volume from 2016.