Stream Realty to Lease 865 KSF Houston Industrial Park

North Park 34 is roughly 14 miles from downtown Houston. Image courtesy of Stream Realty Partners

Arden Group subsidiary Arden Logistics Parks has hired Stream Realty Partners as exclusive leasing agent for North Park 34, an 865,000-square-foot industrial park in Houston. Arden bought the 34-building portfolio in November 2021 from HPI, for just under $80 million, according to CommercialEdge data.

Stream Realty Partners Senior Vice President Boone Smith, Senior Associate Abraham Richardson and Associate Meg Zschappel are the leasing agents in charge, while Analyst Jax Rawlinson will also provide leasing support.

Since acquiring it, the owner implemented a capital improvement program, which led to 436,000 square feet being leased. Upgrades included new exterior paint on all buildings, new energy-efficient lighting, interior renovations for 21 suites and the installation of a drought-tolerant system to reduce water consumption.

The repositioned North Park 34 is at the northwest corner of Beltway 8 and Hardy Toll Road. It includes suites that range from 1,500 to 40,000 square feet. Buildings have clear heights between 13 and 17 feet, semi-dock and dock-high loading configurations and on-site property management.

The Class B, multi-tenant industrial park provides easy access to interstates 45 and 69. The property is 6 miles from George Bush Intercontinental Airport and 14 miles from downtown Houston.

Houston maintains steady industrial supply

In September, Stream Realty Partners, together with Principal Asset Management, completed Portside Logistics Center, a two-building, 1 million-square-foot logistics center in southeast Houston’s Port Industrial submarket. Stream will also market the property for lease.

Triten Real Estate Partners also recently completed a 357,570-square-foot, two-building industrial project in Houston. Fairbanks Northwest Distribution Center is 19 miles from downtown Houston and available for lease, with Cushman & Wakefield as exclusive leasing agent.

Due to its coastal location and access to key industries and Southern distribution routes, Houston maintains its popular position for new industrial development. According to a recent CommercialEdge report, Houston had 17.2 million square feet of industrial space under construction as of October, representing a 5.0 percent expansion of stock. In-place rents were up 4.1 percent year-over-year, which was below the nation’s 7.6 percent—a potential result of new inventory being brought online.