In February 2020, Managing Partner Reed Vestal, SIOR, CCIM and Partner John Erck, CCIM, in conjunction with Taylor Schmidt of Lee & Associates – Houston, were awarded The National Association of Industrial and Office Properties’ (NAIOP) “Industrial Deal of the Year” award. The trio received the award for their representation of Trammell Crow Company, one of the nation’s oldest and most prolific developers of, and investors in, commercial real estate, in the location and acquisition of 132 acres in Cypress, Texas.

For several years now, Northwest Houston has been a bustling area for growth and development. Many of the most well-known companies from Amazon to FedEx reside in the submarket, making it a highly desirable area of Houston to do business. Between the increasing number of industrial developments, master planned communities and retail centers being built in the area, the amount of large, usable land tracts available for development is difficult to come by. By the end of 2019, there was one off-market site everyone in the real estate community had their eyes set on, Weiser Airpark. The Airpark was one of the last properties of its kind with the desired acreage, frontage and access many developers and investors look for in potential sites.

Upon diving deeper into the property, the team found the master thoroughfare plan called for the construction of Fallbrook Road to extend through the property from Huffmeister Road to Highway 290. This new road extension would also pass through the neighboring 30 acres to the south of the Weiser Airpark. They recognized if this property was ever going to sell to a developer, the buyer would have to ultimately acquire the neighboring properties to insure the newly planned road could be rededicated to fit a potential development. In addition to the road rededication and construction, the site also would need to be annexed into a utility district in order to obtain adequate utility capacity for the development.

Making this project a priority, the team put an emphasis on developing and fostering relationships with both the Weiser family and the Huffmeister Interests property ownership. Although the two parties were not ready to sell immediately, Vestal, Erck and Schmidt made an effort to keep in touch and present them with the most up-to-date market information available. After a few years of relentless effort, the Huffmeister Interests property ownership decided the time was right to sell, and shortly thereafter the Weiser family followed suit.

Knowing that there would be many developers interested in purchasing the land, the brokerage team was able to hand select the developer that was best to deliver the project. The team decided to present the off-market opportunity to Trammell Crow Company. The firm has a long history of developing best-in-class assets, and their leadership does not steer away from challenges, which proved to be vital given some the complications this site would impose.

In September 2019, represented by Vestal, Erck and Schmidt, Dallas-based Trammell Crow Company, in partnership with New York-based Clarion Partners, closed on Weiser Airpark and a contiguous parcel of land, bringing the overall acquisition to 132 acres.

Many people today know the site as Weiser Airpark, but generations to come will become familiar with a new landmark, Weiser Business Park. The Class-A industrial business park broke ground late 2020 and is expected to complete phase one by late Q4 2021. Following completion of construction, Weiser Business Park is expected to boast nearly 2 million square feet of industrial distribution space. This should lead to immediate positive impact the community by providing new jobs, commerce opportunities, and improve mobility of the area with the extension of Fallbrook Drive to Highway 290. In February 2020, Managing Partner Reed Vestal, SIOR, CCIM and Partner John Erck, CCIM, in conjunction with Taylor Schmidt of Lee & Associates – Houston, were awarded The National Association of Industrial and Office Properties’ (NAIOP) “Industrial Deal of the Year” award. The trio received the award for their representation of Trammell Crow Company, one of the nation’s oldest and most prolific developers of, and investors in, commercial real estate, in the location and acquisition of 132 acres in Cypress, Texas.

For several years now, Northwest Houston has been a bustling area for growth and development. Many of the most well-known companies from Amazon to FedEx reside in the submarket, making it a highly desirable area of Houston to do business. Between the increasing number of industrial developments, master planned communities and retail centers being built in the area, the amount of large, usable land tracts available for development is difficult to come by. By the end of 2019, there was one off-market site everyone in the real estate community had their eyes set on, Weiser Airpark. The Airpark was one of the last properties of its kind with the desired acreage, frontage and access many developers and investors look for in potential sites.

Upon diving deeper into the property, the team found the master thoroughfare plan called for the construction of Fallbrook Road to extend through the property from Huffmeister Road to Highway 290. This new road extension would also pass through the neighboring 30 acres to the south of the Weiser Airpark. They recognized if this property was ever going to sell to a developer, the buyer would have to ultimately acquire the neighboring properties to insure the newly planned road could be rededicated to fit a potential development. In addition to the road rededication and construction, the site also would need to be annexed into a utility district in order to obtain adequate utility capacity for the development.

Making this project a priority, the team put an emphasis on developing and fostering relationships with both the Weiser family and the Huffmeister Interests property ownership. Although the two parties were not ready to sell immediately, Vestal, Erck and Schmidt made an effort to keep in touch and present them with the most up-to-date market information available. After a few years of relentless effort, the Huffmeister Interests property ownership decided the time was right to sell, and shortly thereafter the Weiser family followed suit.

Knowing that there would be many developers interested in purchasing the land, the brokerage team was able to hand select the developer that was best to deliver the project. The team decided to present the off-market opportunity to Trammell Crow Company. The firm has a long history of developing best-in-class assets, and their leadership does not steer away from challenges, which proved to be vital given some the complications this site would impose.

In September 2019, represented by Vestal, Erck and Schmidt, Dallas-based Trammell Crow Company, in partnership with New York-based Clarion Partners, closed on Weiser Airpark and a contiguous parcel of land, bringing the overall acquisition to 132 acres.

Many people today know the site as Weiser Airpark, but generations to come will become familiar with a new landmark, Weiser Business Park. The Class-A industrial business park broke ground late 2020 and is expected to complete phase one by late Q4 2021. Following completion of construction, Weiser Business Park is expected to boast nearly 2 million square feet of industrial distribution space. This should lead to immediate positive impact the community by providing new jobs, commerce opportunities, and improve mobility of the area with the extension of Fallbrook Drive to Highway 290.

 

About Junction Commercial Real Estate

Junction Commercial Real Estate is a full-service commercial real estate firm that specializes in brokerage 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. 

Junction is pleased to announce Managing Partner Reed Vestal, SIOR, CCIM and Partner John Erck, CCIM have been named to Houston Business Journal’s (HBJ) 2021 Heavy Hitters List as two of the top commercial land brokers in the greater Houston area. The list featured Vestal and Erck listed at #4 and #10, respectively.  

 

Vestal has appeared on the Heavy Hitters list for five consecutive years. As the leader of one of the top land teams in the Houston market, Vestal says there is still plenty of room for growth and improvement. 

 

We are only scratching the surface in terms of our overall abilities. We have an excellent portfolio of experience, but overall our team is without question the youngest in comparison to our peers. It makes me very excited about our future as a company. 

 

Erck is featured in this edition of the Heavy Hitters list for the second consecutive time in his five-year career, jumping six spots from the previous year’s list 

 

Despite Covid making its presence this past year, our team ended up putting one of its best years together. We had to get creative and figure out unique avenues that could help position our clients in the best opportunities as possible.”  

 

Annually, the Houston Business Journal identifies the top commercial real estate brokers based on gross dollar volume of deals completed over the previous year. The Heavy Hitters represent six sectors of commercial real estate: industrial, investment, land, office landlord, office tenant and retail. The full list of 2021 Land Heavy Hitters can be found on the Houston Business Journal’s websiteaccessible here.  

 

About Junction Commercial Real Estate

Junction Commercial Real Estate is a full-service commercial real estate firm that specializes in brokerage 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. 

GET IN TOUCH
(713) 979-9131
[email protected]
One Riverway, Suite 2550
Houston, Texas 77056
QUICK LINKS
The Firm
Our Platforms
Our Results
Contact

Compare

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram