Major industrial land deal in Baytown doubles down on rail service
January 6th, 2016
January 5, 2016 - Houston Business Journal
A Houston-based developer closed a major industrial land deal in Baytown and plans to start building on a spec basis.
Houston's Clay Development & Construction Inc. bought 79.57 acres in Cedar Port Industrial Park on Borusan Road and FM 1405 from TGS Cedar Port Partners LP for an undisclosed amount. Clay Development will build three 500,000-square-foot rail-served distribution buildings. Construction on the first building, at 4830 Borusan Rd., will begin this month and is expected to be complete in August.
Robert Clay, president of Clay Development, said that Houston's booming petrochemical industry has him confident moving forward without any tenants. "It's all about rail," according to Clay. "The rail is the big component. A dual-served rail park is very difficult to find. That's a tough thing to find, and people want them, because the two rail companies (Union Pacific and BNSF Railway) compete against one another. This deal is really rail-specific. It’s the best park and the only park, quite frankly, that has good rail access and storage capabilities. Most other places don’t have this."
Read more: http://www.bizjournals.com/houston/morning_call/2016/01/more-details-on-80-acre-land-grab-in-baytown.html
A Houston-based developer closed a major industrial land deal in Baytown and plans to start building on a spec basis.
Houston's Clay Development & Construction Inc. bought 79.57 acres in Cedar Port Industrial Park on Borusan Road and FM 1405 from TGS Cedar Port Partners LP for an undisclosed amount. Clay Development will build three 500,000-square-foot rail-served distribution buildings. Construction on the first building, at 4830 Borusan Rd., will begin this month and is expected to be complete in August.
Robert Clay, president of Clay Development, said that Houston's booming petrochemical industry has him confident moving forward without any tenants. "It's all about rail," according to Clay. "The rail is the big component. A dual-served rail park is very difficult to find. That's a tough thing to find, and people want them, because the two rail companies (Union Pacific and BNSF Railway) compete against one another. This deal is really rail-specific. It’s the best park and the only park, quite frankly, that has good rail access and storage capabilities. Most other places don’t have this."
Read more: http://www.bizjournals.com/houston/morning_call/2016/01/more-details-on-80-acre-land-grab-in-baytown.html