Trammell Crow JV Adds 2 Tenants at Houston Asset
These deals brought the property to full occupancy.
Rankin 45 Distribution Center came online in 2020. Image courtesy of Trammell Crow Co.
Trammell Crow Co., in a joint venture with Clarion Partners, has fully leased the 355,686-square-foot Rankin 45 Distribution Center in Houston. UMOJA Supply Chain Solutions committed to 176,152 square feet, while Sungrow USA Corp. leased 179,534 square feet at the property. JLL and Cushman & Wakefield represented the tenants, while CBRE worked on behalf of the landlord.
The Class A, cross-dock building features 32-foot clear heights, 52-foot column spacing, 60-foot speed bays and four drive-up ramps, along with ESFR sprinkler systems, 259 parking spaces and 23 trailer parking spaces. Designed by Powers Brown Architecture and built by A&F General Contractors, the facility came online in 2020, according to CommercialEdge.
JLL Senior Vice President Geoff Perrott, along with Executive Managing Director Jeff Venghaus, represented UMOJA Supply Chain Solutions, while Cushman & Wakefield Executive Director Michael Foreman and Executive Managing Director Beau Kaleel assisted Sungrow USA Corp. CBRE CIO Joseph Smith together with Senior Vice President Faron Wiley brokered the deal on behalf of the owners.
Houston’s industrial market, up close
Located at 13800 N. Freeway, the 18-acre property is off Interstate 45 and roughly 18 miles north of central Houston. It is also 9 miles from the George Bush Intercontinental Airport. Trammell Crow Co. Managing Director Jeremy Garner stated in prepared remarks that access to the broader Houston region played a significant role in securing the tenants.
As of July, Houston registered the highest vacancy rate for industrial assets in the U.S. at 9.5 percent, a recent CommercialEdge report shows. The metro does however exhibit a robust supply pipeline with 18.8 million square feet under construction, accounting for 3.2 percent of total stock. It also registered the highest sales volume among the southern markets, at $1.39 billion year-to-date, the same source shows.
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