Archway Properties and Ridgeline Property Group, the two developers who partnered on the project, announced its completion in a June 9 press release.
"We are confident that the growing northwest submarket along with the acceleration of e-commerce will ultimately result in leasing success even in these turbulent times," said Ben Allen, partner at Archway Properties, in the release.
The space is currently available for lease.
About 7.9 million square feet of vacant industrial space has come online in Houston so far in 2020, according to a monthly market snapshot released by the commercial real estate firm NAI Partners in May. The vacancy rate in Houston is up to 7.9% from 6.1% at this time last year, and vacancy rates for Class A properties are at 16.1%, according to the report.
Prior to the coronavirus pandemic, the northwest Houston area had been showing strong growth in industrial space. The northwest submarket has about 5 million square feet of industrial space under construction, about 3 million of which is leased, according to NAI.
