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Houston’s Northwest Submarket Reels in Institutional Buyers

With more than 1.4 million square feet of net absorption during the 12 months trailing first quarter 2019, the Northwest industrial submarket remains a target for institutional investment, i.e., Kempwood Tech Center.

Kempwood Tech Center Kempwood Tech Center was an opportunity for an investor to reposition the older assets within.

HOUSTON—In an area where institutional assets are king, CG7600 LP recently purchased the Kempwood Tech Center, three class-B flex industrial warehouse buildings totaling 113,117 square feet in Houston’s Northwest industrial submarket. The Northwest Industrial submarket is the largest submarket in Houston by square footage and home to the largest concentration of institutional ownership in the city.

“With more than 1.4 million square feet of net absorption over the 12 months trailing first quarter 2019, the Northwest submarket continues to be one of the strongest performing submarkets in Houston and has remained a target for institutional investment,” Martin Hogan, HFF senior director, tells GlobeSt.com.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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