Colliers is pleased to announce the sale of ±13.423 undeveloped acres located on Beamer Road in Friendswood, TX. The sellers were represented by Harrison Kane, Chris Hutcheson, and James Kadlick of Colliers. The buyer, McCormack Commercial, was procured by Colliers.
“McComack Commercial is excited to add to our portfolio of Texas real estate with this acquisition in the booming Southeast Houston submarket. We are looking forward to developing in this area especially considering that the Southeast Houston and South Houston submarkets had the highest annual net absorption as a percentage of inventory in 2023 for industrial product,” said Danny McCormack of McCormack Commercial. “Due diligence is well underway, and we are looking to come out of the ground later in 2024 to serve the high-demand, flex warehouse space. We have plans for this site that can accommodate up to nine new flex office warehouses for the Friendswood area, with initial sizes ranging from 10,000-22,750 SF, and up to 70,000 SF for build-to-suit users. Our team has a proven history of partnering with tenants and owners to produce comprehensive designs that are specific to their business needs. The warehouse is being marketed for lease or sale by Robert McGee and Austin Bartula of Lee & Associates.”
The ±13.423 acre property is located near a multitude of residential developments as well as many commercial users along I-45 and in the Baybrook Mall area. There is a new future single-family development across Beamer Road to be called Clearwater which plans to have 357 single-family homes in the first phase.
“This tract has great access to I-45 via Beamer, FM 2351, and W Bay Area Blvd. There continues to be great demand city-wide for smaller flex buildings and I think that product will do great in this submarket. In 2023, the average industrial deal size was 16,990 SF. There is a need for small businesses to operate closer to home where their employees and clients live,” said Harrison Kane of Colliers.
Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.