Liberty Property Trust (NYSE: LPT) has broken ground on two speculative industrial properties in its Port Houston-adjacent industrial park.
The company will build a 600,000-square-foot industrial property at S. 16th St. and Wharton Weems Blvd. and a 104,000-square-foot industrial property near State Highway 146 and Wharton Weems Blvd. The buildings should deliver in the third quarter of 2018, said Hans Brindley, vice president and Houston market leader at Liberty, in a statement. The buildings will sit within the 139-acre Port Crossing Commerce Center near Port Houston.
“Interest in the two buildings is very high,” Brindley said.
The announced construction comes two years after Liberty bought Port Crossing Commerce Center in a deal valued at $93 million. Liberty plans to eventually add an additional 2 million square feet to the industrial park.
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