First Two Tenants Choose Interwood Only Months After Completion
The first two tenants are confirmed for Interwood Distribution Center, a joint venture between Holt Lunsford Commercial Investments and GID Real Estate Investments. The new tenants, GCP Paper USA Inc. and Tailift Material Handling USA, bring Interwood Distribution Center to a state of 80 percent occupancy less than five months after its completion.
“The North Houston industrial submarket has seen a record amount of speculative development over the last two years. According to our research, the average lease-up time to stabilization for speculative projects in North Houston right now is approximately 18 to 24 months,” said Craig Bean, managing principal of Houston industrial leasing for Holt Lunsford Commercial. “For Interwood Distribution Center to achieve 80 percent occupancy in less than five months speaks to the excellent location, accessibility and design of the project.”
Completed in December 2020, Interwood Distribution Center is a new class-A development at the northeast corner of John F. Kennedy Boulevard and Interwood South Parkway, approximately one mile south of George Bush Intercontinental Airport. Interwood Distribution Center is comprised of 341,692 square feet of rentable space across two adjacent buildings. Building 1 is a 105,847-square-foot rear-load facility and Building 2 is a cross-dock facility totaling 235,845 square feet.
Interwood Distribution Center currently has 68,345 square feet of remaining leasable space in Building 1. The available space features a 2,874-square-foot spec office, white-boxed warehouse space and the ability to be divided to 14,121 square feet.