March 23, 2016
Yesterday, Vigavi Realty broke ground on a new industrial build-to-suit project in Thompson Ten Business Park, located at 6503 Thompson Road in Baytown, Texas. JLL hosted the groundbreaking ceremony on behalf of Vigavi and the end-user, Tidal Tank.
A Houston-based petro-chem and refining storage rental provider, Tidal Tank will consolidate three other area locations into the completed 31,200-square-foot regional center. This is the company’s first build-to-suit property.
JLL’s Senior Vice President Richard Quarles negotiated the terms on behalf of the landlord, Vigavi Realty. NAI Partners’ Jason Whittington represented the tenant, Tidal Tank, in the transaction. Architect Terry Kennedy and Vigavi Realty will lead the project construction, which is slated for completion by year end.
Vigavi’s Managing Principal, Luis Villarreal, said the 14-acre site is a great fit for both Tidal Tank’s current strategic objectives and projected growth.
The company’s future location is situated within Houston’s southeast submarket, approximately 20 miles east of Houston’s CBD. According to JLL Research, the southeast submarket encompasses more than 71 million square feet of Houston’s industrial inventory and posted nearly 3 million square feet of positive net absorption in 2015.
For more information about JLL Houston’s Industrial Services and to view additional listings, click here.