Houston-based National Property Holdings announced Wednesday it broke ground on Katy Prairie Business Park, a two-building industrial development totaling nearly 1.1 million square feet about 34 miles west of downtown Houston between Interstate 10 and Highway 90.
The business park will be built in two phases at 500 and 700 Igloo Road. According to Realty News Report, the first phase will total about 402,000 square feet, while the second will add nearly 681,000 square feet.
“Katy Prairie Business Park represents a premier opportunity to deliver scale, visibility and functionality in one of Houston’s strongest industrial growth corridors,” National Property Holdings CEO Michael Plank said in a statement. “With best-in-class design, direct freeway exposure and a business-friendly environment, the project is ideally positioned to attract leading manufacturing, engineering and logistics users seeking a strategic location in west Houston.”
The development is designed to attract manufacturing, engineering and logistics tenants and will feature 36- and 40-foot clear heights, large truck courts and trailer parking, according to the developer. CBRE will handle leasing.
The announcement comes as industrial development continues gaining momentum across the Houston region. According to CBRE, Houston’s industrial vacancy rate fell to 6.7 percent during the second quarter as the market absorbed roughly 7 million square feet of industrial space, including about 840,000 square feet in west Houston.
The corridor has become one of the Houston area’s fastest-growing industrial hubs, with companies including Costco, H-E-B, Tesla, Amazon, Medline, Ferguson and Igloo already operating nearby, according to National Property Holdings.
Ahmed Humble
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