Park 288 Business Park

[TheNiche]

http://www.chron.com/disp/story.mpl/business/5563713.html

Commercial real estate firm Transwestern Houston has acquired 50 acres along the Texas 288 corridor and plans to put up six industrial buildings there over the next two years.

Located at the southeast corner of Texas 288 and Reed Road, the land is part of a 200-acre tract called Park 288 that could eventually include apartments, retail and more industrial space.

The Houston-based Betz Cos. assembled the land and has started selling off parcels.

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The buildings will accommodate showrooms, distributors and office/warehouses.

Transwestern has already sold off a portion of its acreage not part of its development plans.

The Museum of Fine Arts, Houston purchased a site where it will build a 150,000-square-foot warehouse to house artwork.

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Tyart, a Houston company that provides art installation, packing, storage and transportation services for museums, galleries, corporations and private collectors, will also build a 50,000-square-foot building adjacent to the museum's facility.

[The Great Hizzy!]

This area could definitely use more retail. They're building new residential further south between Airport and Almeda-Genoa, including apartments, so the "black hole" does appear to be heading towards "infill" to some degree of significance.

I also notice that they've built new warehouses on Homestead Road in NE Houston. Does this reflect the new trend now, to build dense housing in former warehouse districts near the core and build new warehouses in low density/rural areas of the city?

[TheNiche]

I also notice that they've built new warehouses on Homestead Road in NE Houston. Does this reflect the new trend now, to build dense housing in former warehouse districts near the core and build new warehouses in low density/rural areas of the city?

New housing pretty much goes everywhere, mostly along the periphery of urbanization, and secondarily in the urban core, but also opportunistically between the periphery and the core.

Aside from deed-restricted industrial parks that still have land to spare (and there are quite a few of those in the southeast, southwest, north, and northwestern industrial submarkets) and that cannot be put to alternative uses, most new warehouse and distribution properties seem to be on the furthest peripheries.

The only way that I suspect that industrial development can be made to work at Park 288 is that they can pick up on industry linked specifically to the Texas Medical Center. They aren't without competition, however. There is plenty of industrial land still remaining just south of the Astroworld site, as well as at the Opus park on Fannin, and now at the Spectrum at Clear Creek.