June 2, 2016
Yesterday, Vigavi Realty broke ground on a new design build project at Fairmont Industrial Center, located at 11802 Fairmont Parkway in La Porte, Texas. JLL hosted the groundbreaking ceremony on behalf of Vigavi and the end-user, HydroTex.
A Chicago-based pump systems and engineering services firm, HydroTex, purchased the 3.25 acre land parcel for the development of a new 36,000-square-foot manufacturing facility, expanding the company’s footprint in the Houston area.
JLL Executive Vice President Mark Nicholas and Senior Vice President Richard Quarles negotiated the terms on behalf of the seller, Vigavi Realty. Lee & Associates’ Preston Yaggi and Stephen Kuper represented the buyer. Architect Terry Kennedy and Vigavi Realty will lead the project construction, which is slated for completion by year end.
The company’s future facility is situated within Houston’s southeast submarket, approximately 20 miles from Houston’s Central Business District, near the Bayport Container and Barbours Cut Terminals. The southeast submarket encompasses more than 72 million square feet of Houston’s industrial inventory. The submarket’s total vacancy was 4.4 percent at the close of the first quarter of 2016.
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