(To read more on the industrial market, click here.)
PASADENA, TX-A Houston developer has acquired 41 acres to expandthe Bayport Distribution Center. Vantage Cos. will soon breakground on the 775,000-sf second and final phase of its coastaldevelopment.
Financial details of the transaction are being kept under wraps,but experts familiar with the area say land values can go from$2.25 per sf to $3 per sf. Vantage Cos. has acquired acreage at thecorner of Fairmont Parkway and Underwood Drive from a Houston-basedlimited partnership, North Bayport Industrial Park II. Second-phaseconstruction is slated to start in April.
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