IDV, Standard Break Ground on Houston Industrial Park

Investment & Development Ventures and investor Standard Real Estate have broken ground on Patriot Business Park, a three-building industrial campus in the North Houston submarket. Delivery is expected in the third quarter of 2025.

The partners teamed up for the development of this project—initially dubbed Veterans Memorial Business Park—in August. Located at 10326, 10328 and 10330 Veterans Memorial Drive, the site has immediate access to Beltway 8 and Interstate 45.

When complete, the campus will include three front-load buildings of 219,000 square feet, 151,000 square feet and 93,000 square feet, each with 32-foot clear heights. Key features include ESFR sprinkler systems and advanced design specifications tailored to accommodate tenants as small as 46,000 square feet.

Stream Realty Partners Managing Director Tyler Maner and Executive Vice President Jeremy Lumbreras are overseeing leasing efforts at the property.

Strong construction activity in Houston

About 3.3 million square feet of industrial space started construction in the third quarter of 2024, accounting for about one-third of the total 10 million square feet of space under construction last year across the Houston market, according to a Cushman & Wakefield report.

One of the projects that broke ground then was Blue Ridge Commerce Center, a five-building, 1.4 million-square-foot campus developed by Trammell Crow. Completion is expected this summer.

The report also noted the metro’s industrial demand has remained “exceptionally consistent, posting 8.4 million square feet of new leasing activity during Q3 2024.” The North submarket, with 2.3 million square feet leased, and Northwest submarket, with 1.8 million square feet leased in the third quarter, recorded the highest demand totals for the second consecutive quarter, accounting for nearly half of the quarter’s total leasing activity.

Stream Texas deals

Stream Realty Partners has been active in its home state of Texas. The firm’s Senior Vice Presidents Forrest Cook and Jeff Rein, together with Associate Connor Land, will spearhead the leasing efforts for Ironhead Commerce Center, a four-building, 906,271-square-foot industrial park in Northlake. The property is being developed by a partnership of Alliance Industrial Co. and Barings.

In Dallas-Fort Worth, Stream’s Senior Vice Presidents Sarah Ozanne and Mac Hall and Vice President Lena Thomas will manage leasing efforts at 635 Exchange, an industrial project of about 600,000 square feet. Creation and PGIM Real Estate are partners in the development that is slated to break ground this summer.