Clay Dev
  • Multifamily Supplier Leases Space in Missouri City

    by 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 MacWilliamJon 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

  • Black Creek Group Acquires New Clay Development Project Near Port of Houston

    by Realty News Report | Apr 29, 2020

    HOUSTON – (Realty News Report) – Black Creek Group, a Denver-based real estate investment management firm, acquired a 140,275-SF Class A industrial building in LaPorte, near the Port of Houston.

    The seller of the new project was Clay Development & Construction, major Houston-based development firm led by Robert Clay.

    “Despite the recent pandemic and oil news, we believe Houston is a solid industrial market that is not going anywhere and while we may see a period of uncertainty for a short period, in the long-term we think valuations will continue to hold for assets. Additionally, the location of the property near the Port of Houston is ideal for capturing leasing demand from a variety of tenants that need access to a developed infrastructure,” said Mace McClatchy, Black Creek Group’s senior vice president and market officer for the firm’s south-central region.

    The sale closed April 14, at a time when financing and completing transactions faced Covid-19 headwinds around the globe. “We do not disclose specifics about our financing, but we started talking with Clay Development about the deal in 2018, so it has been almost two years in the making with the goal of us closing once the building was shell complete which was April 14,” McClatchy said.

    Over the years, the Black Creek Group, has bought or built $20 billion of real estate investments across the spectrum of commercial real estate – including office, industrial, retail and multifamily – providing a range of investment solutions for both institutional and wealth management channels.

    The industrial project, called Port 146, is located at 2020 N. Highway 146, near Highway 225, about three miles from the Barbours Cut Container Terminal, one of the largest marine shipping facilities in the nation.

    McClatchy said Port 146  has been attracting interest from several firms that may be its initial tenant, including third-party logistics firms and companies involved in petrochemicals. The region is one of the largest producers of raw plastic pellets which are transformed into finished consumer and industry products around the world.

    Cushman & Wakefield’s Andrew Jewett and Jason Dillee represented Clay Development & Construction in the transaction.

    Black Creek Group has seven offices across the United States with 300 professionals. The firm has other holdings in the Houston area primarily in the southwest, southeast and northwest markets.

    April 28, 2020 Realty News Report Copyright 2020