John William (J.W.) Fields
HOUSTON, TX — Constellation Real Estate Partners, an investor and developer of logistics properties, in partnership with Cadre, have acquired 20.8 acres of land on the northeast corner of Beltway 8 and Telephone Road in Houston, Texas for the development of a Class A, two-building, 192,306-square-foot rear-load industrial project known as Constellation Telephone.
Construction will begin in the second quarter of 2023 with completion scheduled for the first quarter of 2024.
Constellation Telephone is the third land acquisition/development for Constellation in the past 10 months.
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| Zack Taylor |
Additionally, in May 2022, it acquired 52.29 acres of land on Bill Burnett Drive in El Paso, Texas for the development of a three-building, 798,470-square-foot state-of-the-art industrial project known as Constellation Trade Center.
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| John Nicholson |
“The Houston industrial market remains one of
the strongest markets in the country evidenced by a vacancy rate below four
percent and over 30 million square feet absorbed in 2022,” said J.W. Fields,
Partner at Constellation Real Estate Partners.
“Constellation Telephone will provide modern, rear-load space with Beltway frontage and exceptional access, features that have historically been in high demand in the Houston logistics market.”
Designed by Seeberger Architecture,
Constellation Telephone will feature Beltway 8 frontage, multiple points of
ingress/egress, ESFR sprinkler systems, 28’ clear heights, LED lighting, and
excess land for additional parking/outside storage.
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| Hobby Airport, Houston, TX |
Building 1 will be 93,813 square feet and Building 2 will be 98,493 square feet. The location, access, visibility and design of the project was designed with distribution, fulfillment, e-commerce, and light industrial users from 20,800 square feet to 98,493 square feet in mind.
Constellation Telephone is ideally located with
exceptional access and visibility at the northeast corner of Beltway 8 and
Telephone Road, a key north‐south traffic artery that connects the suburb of
Pearland with Beltway 8.
It is also
minutes from Hobby Airport, BNSF Intermodal and Inner Loop destinations
(including downtown, numerous infill residential communities, and the Medical
Center).
Zack Taylor of Colliers
assisted Constellation Real Estate Partners in the acquisition. Taylor
and John Nicholson of Colliers will oversee leasing of the new
development.
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Contact:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
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Estate Editors (NAREE)
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