Constellation, Crow Holdings Ink Houston Industrial Lease
A joint venture between Constellation Real Estate Partners and a real estate fund advised by Crow Holdings Capital has signed US ELogistics Service Corp. as a tenant at Constellation Post Oak, a 424,011-square-foot industrial park in Houston.
The logistics firm will fully occupy the property’s Building 1, which measures 302,825 square feet. Colliers represented the landlord, while Lee & Associates negotiated on behalf of the tenant.
Located at 14942-15012 S. Post Oak Road, Constellation Post Oak comprises the cross-dock Building 1, featuring a 36-foot clear height, and the front-load Building 2, a 121,186-square-foot facility with a clear height of 32 feet.
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Both buildings share a 220-foot truck court, with an extra 185-foot court pertaining to Building 1. Parking includes a total of 270 car and 52 trailer spaces.
The 2023-completed campus is currently 82 percent leased. Signage manufacturing company D&R Signs also recently committed to 44,978 square feet at the property, with the assistance of Stream Realty Partners.
The 33-acre property is less than 7 miles from U.S. Route 90 and Interstate 69. The Port of Houston and the William P. Hobby Airport operate roughly 20 and 13 miles away, respectively.
Colliers Principals & Executive Vice Presidents Zack Taylor and Barkley Peschel represented Constellation Real Estate Partners. Lee & Associates Executive Principal Robert McGee negotiated on behalf of US ELogistics Service Corp.
Metro Houston industrial vacancy tightens
Greater Houston’s industrial leasing activity totaled 8.7 million square feet in the third quarter, according to a Colliers report. The volume marked an 18.7 percent decrease over the quarter.
Despite the drop, the metro’s vacancy rate dipped 40 basis points quarter-over-quarter, clocking in at 7.0 percent in September, the report shows. Less product hit the market, Houston witnessing just 2.8 million square feet of industrial deliveries in the third quarter, the lowest level since 2018.
In one of September’s deals, Ares Management secured a full-building lease at its 192,400-square-foot infill distribution facility. Safespill agreed to occupy the space.
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