Colliers International has announced it is marketing a 320,000-square-foot warehouse distribution development, Airtex Commerce Park, at the intersection of I-45 and Airtex Drive just south of Spring.
Airtex Commerce Park sits on 19.6 acres at 431 Airtex Drive, Houston—the current site of the Armadillo Mall. Colliers International Principal Bill Byrd said demolition of the former flea market could begin this week. The project is being developed by Molto Properties and Generational Commercial Properties.
"We are excited for our first development project in Houston as well as our first venture with Joe Llamas of Generational Commercial Properties," said Todd Naccarato, founder and senior principal of Molto Properties. "The property's convenient access and exceptionally-functional layout will make this very attractive to future tenants."
Construction could break ground soon after the mall's demolition, Byrd said. The industrial park will house two warehouse buildings upon completion capable of leasing tenants in blocks of 40,000 square feet or more. The first building will be 166,000 square feet and could see tenants occupy the property by the end of the year, he said.
The distribution warehouse buildings could be ideal for food distributors, construction materials and support distributors for the oil and gas industry, Byrd said. The location provides easy access to ExxonMobil's 385-acre campus under construction in Springwoods Village and other nearby developments and amenities.
"Certainly Exxon is a driver for the north I-45 corridor for all new types of facilities," Byrd said. "The I-45 corridor is a major distribution area serving Dallas, the Bush Intercontinental Airport and [Beltway 8]."
Other developments have broken ground over the last year close to ExxonMobil's new campus, which expects to house 10,000 employees upon completion.
Work began last year on the 135,000-square-foot Louetta Business Park at I-45 and Louetta Road, and Halberdier Real Estate has begun development on Hardy North Office Park—a 47-acre mixed used development at I-45 and the Hardy Toll—which could be completed in three years.
For more information on Airtex Commerce Park, visit www.colliers.com.
