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Owned by Principal Real Estate Investors, all three phases combined make Bay Area Business Park one of the largest single-owner industrial parks in Houston at 3.3 million square feet on 232 acres.
With almost 100% of its distribution network serving purely online fulfillment orders, Amazon is best positioned to serve surging e-commerce demand as it directs more control over the order fulfillment process.
While COVID-19's economic impact makes it nearly a given that higher default rates will occur, the economic outlook is a bit rosier than earlier expectations.
Stonelake Capital Partners purchased the 41-acre site from a joint venture between Transwestern and UBS, which is more of a testament to both development quality and tenant creditworthiness.