Urban Logistics Realty has broken ground on The Brickyard, a 542,851-square-foot, three-building business park in Northwest Houston. The campus is scheduled for a second-quarter 2026 completion.
The speculative development is a joint venture between ULR and Principal Asset Management. First United Bank & Trust provided construction financing for this project. Harvey Builders serves as general contractor, Powers Brown as project architect, Kimley-Horn as civil engineer and Pinnacle as structural engineer.
The 39-acre site is at 5020 Acorn St., near Highway 290. The infill location is also close to interstates 45 and 610. George Bush Intercontinental Airport is 18 miles away.
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Aimed at logistics and e-commerce users, the development will target LEED certification and offer flexible configurations, ranging from 30,000 square feet up to the entire property. Upon delivery, the asset will feature ample auto and trailer parking and speculative office space. Tyler Maner, Heath Donica and Jake Rathe of Stream Realty Partners will handle leasing.
ULR has developed 6.5 million square feet of industrial projects across Texas. One of them was Urban District 290, a 238,200-square-foot, shallow-bay property in Houston that the firm built in partnership with Formation Interests, an investment fund advised by Crow Holdings Capital. The joint venture sold the asset last year.
A little up, a little down
The Houston industrial space market saw about 792,000 square feet of positive net absorption in the first quarter, “reflecting steady tenant demand despite broader economic uncertainty” and driven mostly by smaller deals, according to a report from CBRE.
Despite that, overall vacancy crept up by 60 basis points from the prior quarter, to 6.2 percent. Though it’s diminishing, the construction pipeline remains reasonably sizable, at 11 million square feet, though that space is not even quite 10 percent preleased.
