Done Deals: Constellation Real Estate Partners acquires 26 acres in Houston, TX to develop a 537,375 SF speculative industrial project

Wednesday, January 10, 2024

Constellation Real Estate Partners acquires 26 acres in Houston, TX to develop a 537,375 SF speculative industrial project

J.W. Fields

HOUSTON, TX, Jan. 10, 2024 — Constellation Real Estate Partners, an investor and developer of logistics properties, announced today it has acquired 25.8 acres of land located at 6401 North Eldridge Parkway in Houston’s Northwest submarket.

The price was not disclosed. Faron Wiley, Senior Vice President, and Joseph Smith, Senior Vice President, with CBRE’s Houston office have been appointed as the leasing agents for the project.

The company will demolish an existing administrative building to develop Constellation Eldridge, a Class A 537,375-square-foot warehouse. Construction will begin in the first quarter of 2024 with completion scheduled for the fourth quarter of 2024.

Faron Wiley

Designed by Seeberger Architecture, Constellation Eldridge will feature a 40-foot clear height, 56-foot column spacing, 560-foot building depth, 127 trailer parking spaces, truck circulation drives, and an ESFR sprinkler system.

“The Northwest Houston industrial market continues to see strong tenant demand with the ongoing residential real estate and labor expansion on the west side of Houston,” said J.W. Fields, Partner at Constellation Real Estate Partners.

“We are confident that Constellation Eldridge’s infill location will appeal to a diverse group of customers.”

Joseph Smith

Constellation Eldridge is located in the heart of Houston’s Northwest submarket, a preferred location for large sized distribution, e-commerce, and logistics users serving the greater Houston MSA. The site is accessible via North Eldridge Parkway and is only three miles from U.S. 290 and Beltway 8.

About Constellation Real Estate Partners

Founded by Jeremy Giles and Hien Le, Constellation Real Estate Partners is a premier commercial real estate firm specializing in the investment and development of logistics properties throughout Southeastern and Southwestern United States.

Jeremy Giles

The company focuses on three core competencies: speculative development, build-to-suit development, and value-add acquisitions.

Established in 2021, Constellation Real Estate Partners has rapidly emerged as a stable and thriving player in the industry, backed by a team rich in capabilities and expertise.

Its principals have over 125 years of combined experience, have invested over $25 billion in industrial real estate, and developed over 100 million square feet.