After Rapidly Leasing Up Phase 1, Stream To Break Ground On Phase 2 Of Brookshire Development
Stream Realty Partners will break ground on the second phase of its 300-acre Empire West Business Park in September, as Phase 1 of the industrial development has now reached 100% occupancy.
Phase 1 consists of three buildings totaling 1M SF. Building 1 is 163.1K SF and occupied by Warefor Solutions LLC; Building 2 is 122.2K SF and was purchased by Winix America Inc.; and Building 3 is 750.8K SF and occupied by Ferguson Enterprises.
Stream broke ground on Empire West in June 2020 and delivered the three buildings in April this year. The firm said that full occupancy was achieved within four months of completing construction.
“Leasing demand for our first phase was off-the-charts and the outcome speaks for itself,” Stream Realty Partners Managing Director and partner Matteson Hamilton said in a press release. “Based on market fundamentals and current user demand, we are going big with Phase II by offering the utmost flexibility to accommodate users of all sizes in the most modern buildings in the entire market."
Phase 2 of Empire West will consist of six buildings totaling 2.3M SF. The design will mirror Phase 1, but on a larger scale, with buildings ranging from 124K SF to over 1M SF. Phase 2 is expected to deliver in the second quarter of 2022.
Following completion of Phase 2, 45 acres will remain at the site for future development. Stream Realty Partners’ Hamilton, Justin Robinson and Jeremy Lumbreras represented the firm in the transactions and oversee leasing and marketing efforts at the development.
Empire West is situated on I-10 West in Brookshire, within the greater Houston-The Woodlands-Sugar Land metropolitan area. It's a popular area for local industrial developers, which continue to expand further out of the Katy area into the cities of Brookshire and Sealy.
Houston's industrial developers are paying anywhere between 30% and 50% more for land than just a few years ago, reflecting the soaring competition for prime land on major transportation corridors.
