Molto Properties Inks Full-Building Lease in West Houston

Molto Properties has signed a 142,100-square-foot long-term lease at Barker Cypress Distribution Center, in Cypress, Texas, within the West Houston submarket. Building materials supplier 84 Lumber will fully occupy the Class A facility.

Colliers’ Executive Vice President & Principal Wes Williams and Boyd Commercial’s Managing Principal Conrad Bernard negotiated on behalf of the landlord. The same team also helped the owner when it acquired the land site.

Molto Properties financed the asset’s development with a $7.3 million construction loan from Associated Bank, due 2025, CommercialEdge data shows.

Built in 2022, Barker Cypress Distribution Center is at 12020 Barker Cypress Road and features 32-foot clear heights, a 3,574-square-foot office component, two drive-in doors, 11 dock levelers, 124 vehicle parking spots and 25 trailer parking spots. The front load industrial facility also includes ample column spacing, 32 dock-high doors and 60-foot speed bays.

The 12-acre property provides easy access to Interstate 10 and U.S. Highway 249, while being 27 miles from George Bush Intercontinental Airport, 30 miles downtown Houston and within 33 miles of Port of Houston.

Houston’s vacancy rate in early 2024

As of January, Houston’s average in-place rents were at $6.58 per square foot, up 4.4 percent year-over-year. This was more expensive than Dallas ($5.83 per square foot) and Atlanta ($5.60 per square foot), according to a recent CommercialEdge report. The vacancy rate in Houston settled at 5.9 percent, 110 basis points higher than the national figure.

In early December 2023, Stream Realty Partners has been appointed as exclusive leasing agent for North Park 34, an 865,000-square-foot industrial campus in Houston. Arden Group subsidiary Arden Logistics Parks owns the asset and upgraded it after its purchase in late 2021.