HOUSTON—Established in 1914, Port Houston is undergoing a $1.4-billion modernization project to upgrade container terminals. Currently, the port handles more than 20,000 ship movements, 2.1 million TEUs and 4.8 million tons of steel annually.

A prime 23.8 acre tract, one of the largest currently available along the Houston Ship Channel, is currently for sale. The property is located along the Port of Houston, which is accessible via rail, truck and two berths for barges or vessels.

Avison Young principal Darrell L. Betts, based in the company's Houston office, is coordinating the exclusive sale listing along with Avison Young principal Tom Hoffman, based in Minneapolis, on behalf of an undisclosed seller.

“This is a premium location with massive potential for redevelopment,” says Betts. “Because of the property's positioning in the heart of the ship channel with easy access to major highways and railroads, the right company will leverage this acreage to drastically increase its footprint in the US market. International corporations, including those based in the Middle East, Europe or even Asia, stand to benefit greatly from purchasing and developing a location like this ship channel tract. With more than 8,300 vessels and 200,000 barges passing through Port Houston each year, the economic potential for a company at this location is exponential.”

A variety of companies already on the ship channel are expected to be interested in this acreage to add to existing operations. Because the port ranks first in the country for foreign waterborne tonnage, imports and export tonnage, companies in the energy, petrochemical and distribution sectors will likely compete for the property.

Rand Stephens, a principal of Avison Young and managing director of the Houston office, who has worked in the Houston real estate market for 29 years, says it is rare for such large ship channel tracts to become available.

“There is only one Houston Ship Channel and this type of tract only comes available every 10 to 20 years,” Betts tells GlobeSt.com. “Our forefathers' idea to widen Buffalo Bayou and bring larger ships in was brilliant. Now, the Port brings in so much revenue and job growth. The real gem is the deep water port, with 862 feet length of frontage and heavy trucking including multiple rail lines with 125 spaces on 11 tracks. That's the trifecta. Also, the widening of the Panama Canal is bringing in larger ships.”

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Rare Large Ship Channel Tract Becomes Available

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