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HOUSTON-The Houston Independent School District has spent close to $2 per sf for about 15 acres to build a food distribution center in the Northport Industrial Park, a 100-acre development in the northeast submarket.

The Austin-based owner, Cypress-Industrial Co., bought the bulk of the park, or 85 acres, about five years ago from Trammell Crow Co. in Dallas and has been selling off chunks ever since. The school district acquired acreage at the intersection of Homestead Road and Loop 610 East.

Trammell Crow started working the development in the early 1980s, starting with a pair of 63,500-sf industrial buildings, which were sold to another Dallas investment group at the same time the rest of the developable land traded to Cypress Industrial, James E. Foreman with Cushman & Wakefield of Texas Inc.’s local office tells GlobeSt.com. He says there are seven acres left to sell.

The land has been selling for $2 per sf to $3 per sf, with the school district paying on the low end of the scale, according to Foreman. He says school officials took a long time to decide whether to buy the site although it was inexpensive given the proximity to the CBD.

According to a school district contact, the plans for the food distribution facility are still so preliminary that an architect has yet to be selected. The word on the street is officials want to build a distribution center of 200,000 sf or more. In addition to Foreman, the C&W team negotiating for the seller included Sandra F. Harris, Beau Kaleel, B. Kelley Parker III, John F. Littman and H. Frank Stanley.

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