Trammell Crow, Artis REIT Announce New Industrial Business Park
- Apr 09, 2015
Dallas-based Trammell Crow Co. and Artis REIT closed on the acquisition of two land tracts in Missouri City, Texas, where the companies plan to develop Park 8Ninety, a Class A industrial business park.
Located at the south corner of U.S. Highway 90A and Beltway 8, the two tracts were acquired from Ellis Management and a local investment group.
According to an official press statement, the industrial park could accommodate more than 1.8 million square feet of build-to-suit or speculative office/warehouse, distribution and manufacturing space. Work on the first phase, which entails three buildings totaling more than 330,000 square feet of space, is expected to begin this summer.
“This is an incredible opportunity for Artis REIT and Trammell Crow Co. to develop a new-generation, Class A industrial park in Houston’s thriving Southwest industrial submarket. We are optimistic about the growth potential, both in Fort Bend County and in the Houston area, and are excited about this opportunity to partner with Trammell Crow Co. and increase our presence in Texas and in the United States,” said Armin Martens, president & CEO of Artis REIT.