HOUSTON, TX – April 14, 2022 – Stream Realty Partners will develop a speculative 1-million-square-foot industrial project in a joint venture with Principal Real Estate Investors.

Stream, a national real estate services, development, and investment company, is expected to break ground in the third quarter of 2022 on Portside Logistics Center, a project at 4838 Borusan Road in Baytown, Texas. The property, located in the highly sought-after Southeast industrial submarket, offers immediate access to State Highway 99/Grand Parkway, Interstate 10, and Highway 225 and provides strategic access to Port Houston’s two container terminals – Barbour’s Cut and Bayport.

“We are extremely grateful to be growing a long-standing relationship with Stream through our partnership on Portside Logistics Center,” said Colin Frye, Asset Manager for Principal Real Estate Investors. “This project is a natural fit to continue our work together given our shared experience in the Port Houston area and the industrial sector overall.”

Portside Logistics Center will offer multiple configurations with an expandable 760,000-square-foot cross-dock building and a flexible 260,000-square-foot front-load building with a 40-foot clear height and 36-foot clear height, respectively. Intuitive ingress and egress via the Grand Parkway, which is currently being improved to Highway 146, will offer expedited access to Port Houston’s two container terminals, Highway 225, and Interstate 10. Both buildings will deliver with spec office space, LED warehouse lights, a white-boxed interior warehouse, and fully fenced and secured truck courts. The project is seeking LEED certification as part of the core and shell construction.

“The explosive population growth we are experiencing in Houston and greater Texas, coupled with the port diversification strategies many distributors are seeking, all position Houston’s Southeast submarket for continued positive momentum for the foreseeable future,” said Justin Robinson, Executive Managing Director of Stream’s Industrial Development Services division. “With serious land constraints in place for industrial development in this pocket, we feel this development opportunity perfectly positions our venture to capture this market growth and strong tenant demand.”

Kyle Fletcher, a Director in Stream’s Houston office, will assist in the development management of the ground-up industrial project. Robinson, Senior Director Tyler Wellborn, and Director Craig McKenna will provide oversight on the ground-up development.

Tyler Maner, Managing Director of Stream’s Houston Industrial division, and Jeremy Lumbreras, Senior Vice President for the Houston industrial division, will oversee leasing.