The Plano, TX-based snack food company is making plans for the future, Michael J. Taetz with the Houston office of Colliers International tells GlobeSt.com. Of Frito-Lay's 10 Houston-area properties, the nearest one to the newly bought tract is 34 miles away in in Conroe.
The Beltway North Industrial Park land was marketed at $1.75 per sf or about $220,000 while the park's going average is $2.50 per sf. Taetz represented the family partnership seller, GBDS Investments Ltd. of Houston, and Mary Hinton of the Atlanta office for CB Richard Ellis Inc. brokered for the buyer, a division of PepsiCo Inc.
The owners of the 28-acre Beltway North Industrial Park are working with a development group to build five to seven speculative industrial buildings on the remaining five acres. Taetz says the plan calls for buildings ranging from 12,000 sf to 15,000 sf.
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