Introducing Southeast 45 Logistics Park
(HOUSTON, TEXAS — FEBRUARY 2023) Junction Commercial Real Estate, a full-service commercial real estate firm, is pleased to announce the commencement of construction on Southeast 45 Logistics Park at 5115 South Shaver Street in Houston, Texas.
Designed by Ware Malcomb, the development features a ± 169,677 SF front-load industrial building on ± 11.83 acres with a 130’ truck court, thirty-two dock-high positions, two grade-level doors, ESFR sprinkler system, and ample truck-trailer parking and storage.
The design, permitting, and full capitalization of the project was completed in arguably one of the toughest capital market conditions the Houston MSA has seen in over a decade. Despite the challenging environment, Houston’s industrial class shattered market records in 2022, absorbing 30.3 million square feet net and driving vacancy rates down to 3.8 percent.
Requirements from industrial occupiers are anticipated to persist in concert with continued e-commerce sales and Houston’s booming population. Southeast 45 Logistics Park is particularly well positioned to also support the record setting container traffic at the Port of Houston. Less than one mile from Interstate 45 and two miles from Beltway 8, the site’s excellent thoroughfare access and proximity to the Port Terminals are competitive advantages for logistics sensitive companies migrating supply chain efforts to Texas.
“We are very bullish on the Houston industrial distribution market. With deals being harder to capitalize and spaces being leased up simultaneously, we are forecasting record lows in vacancy rates in coming months. This lack in supply will create incredible opportunities for landlords and developers.” said Reed Vestal, SIOR, CCIM, Managing Partner at Junction Commercial Real Estate.
Construction commencement of Southeast 45 Logistics Park marks JUNCTION’s 8th fully capitalized acquisition and/or development in the last twelve months. Since opening in 2021, JUNCTION has acquired over $40,000,000 in commercial real estate assets, building a steady investment and development pipeline despite the sluggish market environment.
“Our group has been very fortunate to have identified the strategic positions we have acquired. We believe with our established relationships, committed partners, and our market experience, JUNCTION will continue to build our portfolio exponentially over the next few years,” said Reed Vestal, SIOR, CCIM.
The building is scheduled for delivery end of Q3 2023. Reed Vestal, SIOR, CCIM, John Erck, CCIM and John Saucer of Junction Commercial Real Estate’s brokerage division will manage leasing for the project.
What People are Saying
HOUSTON BUSINESS JOURNAL
Houston-based Junction Commercial Real Estate has started construction on its first ground-up industrial development.
Southeast 45 Logistics Park, a 169,677-square-foot project, is being built on 11.83 acres at 5115 S. Shaver St. in southeast Houston….
THE REAL DEAL
Junction Commercial Real Estate began construction on Southeast 45 Logistics Park at 5115 South Shaver Street in Houston recently, the Houston Business Journal reports. The 170,000 project sits on just under 12 acres and is expected…”
ABOUT JUNCTION COMMERCIAL REAL ESTATE
Junction Commercial Real Estate is a full-service commercial real estate firm that specializes in brokerage,
development and investment management. With relentless determination and an unwavering commitment to clients, investors, and partners, the Junction team combines over thirty years of producing exceptional results. Collectively, our real estate professionals have brokered, acquired, managed, and disposed of billions of dollars of commercial assets domestically and internationally. Junction is headquartered at One Riverway in Houston, Texas. For additional information, please visit JunctionUSA.com.