HOUSTON-Further solidifying its footprint in the region, DCT Industrial Trust Inc. has purchased 11 acres in the northwest submarket from a local seller. The Denver-based REIT plans to launch construction in February on DCT Beltway Tanner Business Park, a 133,000-square-foot, rear-load, light industrial facility, with a completion date of Q3 2013.
Beltway Tanner will be located at the intersection of Tanner Road and Beltway 8 and, according to Justin E. Bennett, DCT Industrial’s Houston Regional Vice President, the speculative industrial property offers plenty of visibility along the well-traveled Beltway 8. “What you’re starting to see is users demanding more visibility and more exposure along Beltway 8,” he tells GlobeSt.com. “That’s why the land was so attractive. There are very few pieces that are available for developments of this type; that are industrial in nature, but can accommodate a higher office finish.”
Meanwhile, in the North Houston submarket, DCT has launched construction on its 267,000-square-foot DCT Airtex Industrial Center, which is also a speculative project, and which will also be open for business by Q3, 2013. Bennett explains that, as land becomes more scarce in the northwest submarket, users are migrating along Beltway 8 to where it intersects Interstate 45, and points north. Airtex Industrial Center will have offer visibility along the interstate. “Users like I-45,” Bennett says. “It’s a major non-toll roadway and it’s the major route between Houston and Dallas. It’s used by a lot of logistics providers.”
Bennett goes on to say that DCT is continuing to eye both development and acquisition opportunities throughout the regions. Preferred locations are the north, northwest and southeast submarkets.