Philadelphia-based Arden Logistics Parks (ALP), Arden Group’s national logistics real estate operating platform, has awarded Stream Realty Partners a new leasing assignment for a 34-building business park located in Houston.
Stream, a national commercial real estate firm offering an integrated platform of services, will now oversee leasing activities for the recently rebranded North Park 34, an 865,000-square-foot industrial business park located on the northwest corner of the Beltway 8 and Hardy Toll Road intersection. Stream Houston Senior Vice President Boone Smith, Senior Associate Abraham Richardson, and Associate Meg Zschappel will serve as leasing agents. Analyst Jax Rawlinson will provide leasing support.
North Park 34 provides expedited access to Interstate 45, Interstate 69, and George Bush Intercontinental Airport. The business park offers an abundance of space layouts and configurations, with made-ready suites available for immediate occupancy. Suites at North Park 34 range in size from 1,500 square feet to 40,000 square feet. Grade level, semi-dock and dock-high loading configurations are available. The business park features on-site property management and is equipped with ample surface parking.
ALP acquired the asset in November 2021 and immediately began implementing institutional-quality capital upgrades to the building exteriors and tenant suites. Such improvements include a more traditional office/warehouse configuration, exterior painting of all 34 buildings, interior/exterior lighting package upgrades to energy-efficient LED fixtures, installation of drought tolerate landscaping to reduce water consumption, and full interior renovations to 21 vacant suites. The market response to these value-add improvements has resulted in the execution of 92 leases totaling 436,000 square feet in less than 24 months.
Stream Realty Partners has recruited industrial real estate professional Thomas (Tommy) Erwin to help accommodate users with heavy manufacturing needs throughout the Houston region.
Erwin joins Stream, a national commercial real estate firm offering an integrated platform of services, as a vice president in its Houston office, responsible for industrial tenant representation, transaction management, and new client and business pursuits. His background in mineral acquisition and divestiture lends him a unique perspective and skillset in seeking out opportunities of maximum value for clients. Erwin will work closely with Managing Director Tyler Maner to expand the company’s industrial services platform across the Houston metro market, specifically in the port sector.
Erwin comes to Stream from Moody Rambin, where he spent the last four-plus years as a member of their industrial and investment services team, focused on tenant representation, landlord representation, and investment services. While there, he focused on the heavy industrial manufacturing sector covering port cities throughout the Gulf Coast. This specialization encompasses a wide array of services, including facilitating acquisition and disposition of properties on behalf of Fortune 500 companies, locally owned operations, and high net worth family offices. Throughout his career, he has utilized his expertise to provide dedicated solutions across the expansive landscape of Texas’s industrial marketplace.
Erwin was a recipient of NAIOP Houston’s Rising Star award in 2021, which recognizes real estate professionals within the Houston community that exemplify the most outstanding qualities in the commercial real estate industry, including transactional standout, client service, community involvement, and mentoring young professionals. As a seventh generation Houstonian, Erwin is deeply entrenched in the local community, serving as a member of JH Outback Texas’s Executive Committee.
Bates Arnot will lead Stream Realty Partners’ central region industrial development services division in his elevated role as managing director.
In his new role, Arnot will continue sourcing development opportunities throughout Texas and Colorado and other markets in the region. Arnot will manage the Industrial Development Services platform’s largest team, continue to source new development talent, and contribute to Stream’s national IDS platform’s leadership and overall growth strategy.
Arnot originally came to Stream, a national commercial real estate firm offering an integrated platform of services, as a young industrial leasing broker in Dallas in 2009. Green, a fellow leasing broker at the time, took the initiative as Arnot’s professional mentor and business partner. The duo saw great success together.
In 2013, Arnot left Stream to learn more about industrial development at Hillwood (a Perot Company), a multinational industrial, commercial, and residential real estate development company based in Dallas. While there, Arnot was responsible for leasing, land acquisitions, development, and property acquisitions in multiple markets, including DFW, Denver, Houston, Austin, and Memphis. He was involved with over 28 million square feet of leasing and 1,170 acres of land acquisitions, representing 14.5 million square feet of industrial development.
Armed with seven years of development experience at Hillwood, Arnot rejoined Stream in 2020 to help build its new Industrial Development Services platform. Since his return, the team has accumulated 10 current projects in the central region with a total cost basis of $1.1 billion. His most recent success was a start-to-finish development and forward-sale of a 300,000-square-foot industrial building to Westcore Properties executed earlier this year.
Stream Realty Partners has completed Portside Logistics Center, a one-million-square-foot industrial project in the highly sought-after Southeast Houston (Port) industrial submarket.
The national commercial real estate firm offering an integrated platform of services developed the Class AA, two-building industrial project in a joint venture with Principal Asset Management. Immediate occupancy is now available for users from 122,971 square feet to over one million square feet.
Portside Logistics Center is located at 4838 and 4908 Borusan Road in Baytown, Texas. The speculative industrial development offers immediate access to Grand Parkway (State Highway 99), Interstate 10, Highway 225, and Highway 146, allowing expedited access to Port Houston’s two container terminals–Barbour’s Cut and Bayport.
Portside Logistics Center offers multiple configurations with an expandable 760,000 square-foot cross-dock building and a flexible 260,000-square-foot front-load building which will offer a 40-foot clear height and 36-foot clear height, respectively. Both buildings were developed to the highest standards, featuring speculative office space, LED warehouse lights, a white-boxed interior warehouse, and fully fenced and secured truck courts. The project is seeking LEED certification.
The project broke ground in Q3 2022. Corporate neighbors include Ikea, Walmart, The Home Depot, Niagara Bottling, and Floor & Decor. Kyle Fletcher assisted in the development management of Portside. Robinson, Senior Director Tyler Wellborn, and Director Craig McKenna provided oversight on the ground-up development of the facility. Tyler Maner and Jeremy Lumbreras will serve as leasing agents for the project.
Stream Realty Partners brokered the sale of a 519,905-square-foot industrial park in Fort Worth to a San Diego-based industrial real estate acquisition, development, and asset management firm.
Westcore purchased Railhead Business Station, a four-building campus at 401, 500, 600, and 800 Railhead Road, from a global real estate investment management firm. The project was fully leased to 11 tenants at the time of the sale. The price was undisclosed.
Stream, a national commercial real estate firm offering an integrated platform of services, represented the seller in the transaction. Seth Koschak and Matteson Hamilton, executive managing directors and partners of Stream’s Industrial Capital Markets group–along with Senior Vice President Forrest Cook, Vice President Jeff Rein, Senior Analyst Lee Belland III, Financial Analyst Trey Mahla, and Senior Production Coordinator Haili Rumsey–were involved in the sale. Westcore represented itself.
Railhead Business Station, in the highly coveted infill submarket of Meacham/Fossil Creek in North Fort Worth, is just a few miles north of the Central Business District. The multi-tenant buildings possess a roster of regional and national tenants. Additionally, the project provides immediate access to Interstates 820 and 35W and sits in an enterprise zone offering triple freeport tax abatements.
A longtime commercial real estate leader credited with growing Stream Realty Partners’ Dallas industrial leasing team by more than 100% in three years has been named a partner.
Managing Director Matt Dornak will continue to oversee day-to-day industrial activities for Stream’s Dallas-Fort Worth office alongside Managing Director and Partner Ryan Boozer. He joined Stream, a national commercial real estate firm offering an integrated platform of services, as an Analyst in 2011 and ascended over the last 12 years to associate, vice president, and managing director before being named partner.
During his tenure at Stream, Dornak has helped increase the Dallas-Fort Worth industrial portfolio by more than 30 million square feet. He is credited with building a successful South Dallas industrial leasing team from scratch and establishing relationships with countless new clients.
Dornak graduated with a Bachelor of Arts in Sociology from Dartmouth College and spent one year as a Paralegal at an Austin law firm before starting as an analyst at Stream DFW. He said he was drawn to Stream’s competitive environment and team and entrepreneurial mentality.
Stream Chief Operating Officer and Partner Blake Kendrick noted the DFW industrial group has become the largest business unit within Stream under Dornak’s leadership.
Dornak said one of his favorite quotes that he lives by and perfectly represents his time at Stream is: “When hard work becomes fun, success follows.”