Vigavi JV Starts Construction on North Houston Industrial Project
The joint venture between Vigavi and Principal Asset Management has broken ground on WestPoint 45, a 728,000-square-foot speculative industrial project located in Houston’s Greenspoint submarket. Completion is expected by early 2025.
WestPoint 45’s development team includes Angler Construction and Seeberger Architecture, locally based contracting and architecture firms. Langan will provide civil engineering services, while JLL will head up marketing and leasing.
Vigavi’s 31st industrial project near Houston
The partners have purchased the then 42-acre vacant parcel from Audacy Inc., a Philadelphia-based broadcast company. The site hosted transmitters for several local radio stations, which have since relocated. When complete, this will be Vigavi’s 31st industrial building in the Houston area.
The developers are pursuing LEED certification for WestPoint 45. Plans call for a facility with 40-foot clear heights, 180 trailer stalls and additional speculative office space. JLL Executive Vice Presidents Richard Quarles and Mark Nicholas, alongside Senior Vice President Joseph Berwick, will spearhead leasing at the property.
WestPoint 45’s groundbreaking ceremony. Photo courtesy of Vigavi
The development site at 410 West Road is roughly a mile and a half from the Pinto Business Park, a 971-acre campus that will total approximately 7 million square feet of industrial space at full build-out. An onramp to both Interstate 45 and Beltway 8 is a mile and a half to the northeast, giving the facility potential shipping access to much of the metro area. Downtown Houston is roughly 12 miles southward, while the city’s port is roughly 30 miles southeast.
Space City, the industrial superstar
Data from CommercialEdge’s latest national industrial report shows that Houston boasted the second largest pipeline in the South at the end of February, totaling more than 8.2 million square feet. H-Town also took home the region’s silver medal for sales, with $220 million worth of transactions closing in the first two months of the year. The metro was second only to Dallas, which had a pipeline nearly three times as large, with an even smaller vacancy rate.
One of the industrial projects that entered Houston’s development pipeline in February is Stafford Logistics Park, a 785,000-square-foot campus taking shape in Stafford, Texas. Lovett Industrial is developing the complex in partnership with PCCP LLC.
As for upcoming projects, last month NASA completed a leasing and development agreement with the American Center for Manufacturing & Innovation at Exploration Park, a planned 240-acre manufacturing and research complex adjacent to the Johnson Space Center in Houston. The tenant intends to develop a campus that will include commercial and aerospace-oriented industrial and manufacturing space as well as an applied research facility.
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