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Hines Developing 150-Acre Business Park in Katy to Meet Industrial Demand

Potential 2.2 Million-SF Development Part of Global Real Estate Investor's $600 Million Industrial Investment Strategy
May 10, 2018
One of Houston’s most prominent developers is planning a new master-planned business park along I-10 in hopes of catching the eye of several high-profile distributors reportedly looking for 500,000 square feet or more of distribution space in the Houston area.

Hines entered into an exclusive joint venture with Katy Partners to develop a 150-acre tract in Katy, TX, into the newest Hines business park, named Pintail Crossing. At completion, Pintail Crossing will be able to accommodate up to 2.2 million square feet of distribution space.

The move is part of Hines’ plans to invest more than $600 million targeting industrial real estate in key markets in Texas and the United States.

"Hines is expanding our logistics business both regionally and nationally," Connor Tamlyn, a director at the Houston-based firm, told CoStar News, in an email. "Hines is acquiring or developing a wide variety of logistics facilities including bulk distribution and shallow bay product."

Hines will immediately focus on build-to-suit transactions geared towards regional and local distribution requirements to serve the greater Houston, San Antonio and Austin markets, which are the fourth, seventh and 11th largest cities in the United States.

"Over the past several years we have seen the far west I-10 corridor emerge as a vibrant logistics submarket, with some of the largest user footprints in the Houston MSA locating there. The location offers access to Texas’ major population centers and proximity to a high-quality labor pool," Hines Managing Director Charlie Meyer said.

Hines will look to build on the recent success of its other industrial parks in the area, including Pinto Business Park in north Houston, Beltway Southwest Business Park in southwest Houston and Independence Logistics Park in southeast Houston.

For the Record:

Andrew W. Sowell and Bo Pettit of Boyd Commercial advised and represented Katy Partners and have been retained to handle leasing for Pintail Crossing.

Kyle Hagerty, Houston Reporter  CoStar Group   
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