Realty News Report
| Mar 04, 2021
HOUSTON – (Realty News Report) – AZ Partsmaster, a supplier of maintenance parts for the multifamily operators, has leased 68,342 SF in Waypoint Business Park located at 411 Cravens Road in Missouri City, Texas. The landlord, 4M Investments and Clarion Partners, was represented by Justin Robinson, Matteson Hamilton and Woody Hillyer of Stream Realty. Payson MacWilliam, Jon Lindenberger and Paul Dominique of Colliers represented the tenant.
AZ Partsmaster will occupy Building 1 of Waypoint Business Park and continue to expand their market share in Texas with locations in Houston, New Braunfels (serving Austin and San Antonio), and Garland (serving greater Dallas and Fort Worth).
“We are excited to be opening our third location in Texas,” said President of AZ Partsmaster, Darren Rawson. “We are focused on delivering exceptional value and service to the multifamily housing market and are excited to extend our Texas operations into these new and important markets to existing clients and look forward to welcoming new clients within the multifamily housing industry.”
Established in 1985, AZ Partsmaster distributes maintenance supplies to the multifamily housing Industry.
Waypoint Business Park, encompasses four buildings totaling 708,944 square feet in southwest Houston’s Missouri City, with excellent ingress/egress to Beltway 8 and Highway 90, and S Gessner Road via Cravens Road. The project is within the Southwest Corridor, consisting of 25.3 million square feet in 628 buildings. The submarket is 88 percent occupied, and there are approximately half a million square feet under construction.
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.
In other Southwest activity, Trammell Crow Co. and joint venture partner Artis REIT, a Canadian-based real estate investment trust, just broke ground on a 676,860-SF speculative industrial project in the Park 8Ninety development, 129-acre business park near the intersection of Beltway 8 and US 90A.
After being overlooked for decades, southern sector of Beltway 8 has exploded with industrial development in the last four or five years. With access to US 90A, the Southwest Freeway, Highway 288, the Fort Bend Toll Road and other highways, the area offers logistics options .Hines, Welcome Wilson, Clay Development and other major developers have jumped into the South Belt market with spec industrial and build-to-suits.
Amazon recently announced plans for a 1 million SF in the Missouri City are at Highway 6 and the Fort Bend Toll Road.
March 4, 2021 Realty News Report Copyright 2021