Nuveen Lands 166 KSF Tenant at Houston Warehouse

The Class A Airtex Commerce Center in Houston came online in 2015. Image courtesy of Colliers

Power Electronics USA has signed a full-building lease at Airtex Commerce Center, a 166,250-square-foot industrial building in Houston. Nuveen Real Estate is the owner of the property.

Transwestern Executive Managing Director Brian Gammill and Managing Directors Darryl Noon and Craig Bean represented the landlord. Colliers Vice Chairman & Director John Nicholson, Executive Vice President Robyn Hurrell, alongside Associate Ben Condara negotiated on behalf of the tenant.

Nuveen Real Estate acquired the asset in 2018 from Molto Properties, according to CommercialEdge data.

The Class A warehouse is on 19.6 acres and features 32-foot clear heights, 52-by 60-foot bay spacing, ESFR fire sprinklers, insulated ceilings, 130-foot truck court, loading doors and dock bumpers. The property offers 250 car parking spaces at a ratio of 1.5 spaces per 1,000 square feet.

Located at 431 E. Airtex Drive, the facility is near Interstate 45, within the North Industrial Corridor, some 17 miles North of downtown Houston. George Bush Intercontinental Airport is 10 miles away. Companies in the surrounding area include DHL eCommerce, Gulf States Toyota Vehicle Processing Center and CVS Warehouse Distribution Center.

Recent lease deals in Houston

Industrial in-place rents in the market were up 3.6 percent year-over-year, to an average of $6.3 per square foot as of July, according to a CommercialEdge report. Although vacancy was relatively high, at 9.5 percent, demand is healthy, with some large leases completed in previous months.

Ares Industrial Management landed a 227,300-square-foot lease with Proactive Supply Chain Group at its newly built 454,600-square-foot Bayport 146 Distribution Center in Seabrook, Texas.

Trammell Crow Co., in joint venture with Clarion Partners, fully leased its 355,686-square foot Rankin 45 Distribution Center in Houston to two tenants. UMOJA Supply Chain Solutions committed to 175,152 square feet, while Sungrow USA Corp. leased 179,534 square feet.