Constellation Real Estate Partners acquired nearly 33 acres with a new real estate fund advised by Crow Holdings Capital, for its latest project in Southwest Houston.
The Constellation Post Oak will be a multiple-building logistics center, typically used for storage, order packing and distribution of goods. The site for the project sits on South Post Oak Road, which connects the Sam Houston Tollway and the city’s south beltway loop– popular routes for distribution in and around the metropolitan area.
The development totals 426,200 square feet and will comprise two buildings: a 304,400-square-foot cross-dock building with 36 foot clear height and a 121,800-square-foot building with 32 foot clear height.
With its completion scheduled in the second quarter of 2023, Constellation Post Oak will be marketed to tenants requiring from 60,900 square feet to 304,400 square feet. Ground breaking on the development is expected by June.
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The planned logistics center will be well-suited for e-commerce entities looking to reach customers in Houston’s growing exurbs, according to the company. With the region’s mounting housing demand, the space is also likely to attract HVAC, flooring or building supply firms moving into the South Texas home building industry.
The firm has tapped Powers Brown Architecture and Langan Engineering to design the project. The property should be fitted with multiple points of ingress/egress with full circulation, trailer parking, ESFR sprinkler systems and LED lighting, said Constellation.
With offices in Houston and Dallas, Constellation serves as an investment and development arm of Constellation Real Estate Group focused on logistics properties in the southeastern and southwestern United States.
“Demand continues to outpace deliveries and we feel certain the market will continue to tighten in the near-term,” said J.W. Fields, a partner at Constellation.