Follow on Google News News By Tag Industry News News By Place Country(s) Industry News
Follow on Google News | ![]() Colliers secures new lease for Molto Properties in Northwest HoustonBy: Colliers Hosuton "This is an exciting new lease for the Molto team as 84 Lumber strategically locates their new door shop just down the road from their existing Northwest Houston location," said Wes Williams of Colliers. Barker Cypress Distribution Center is a new Class A distribution building in Northwest Houston with 142,100 square feet of space on 11.92 acres. It has frontage on both Barker Cypress and Highway 290. Wes and Conrad helped the Molto team acquire the land site on Barker Cypress and oversaw the successful lease up of the project. 84 Lumber has leased the entirety of the available space. Founded in 1956 and headquartered in Eighty Four, Pennsylvania, 84 Lumber Co. (https://www.84lumber.com/ The property is within the Northwest Corridor's Northwest Outliers industrial submarket, which contains 42.5 million square feet of inventory that is currently 95.6% occupied. Nine buildings with 1.4 million square feet of industrial space are currently under construction while 35 buildings totaling 673,088 square feet were completed during 2023 in the submarket. The average asking rental rate is $11.23 per square foot with net absorption totaling 2.7 million square feet in 2023. End
|
|