11,000-Acre sale! One of Houston area’s biggest land deals

BAYTOWN – Cedar Crossing, a 10,897-acre industrial park, has been sold to Trans-Global Solutions (TGS) Cedar Port Partners. Also included in the transaction was a 312,000-sf on-site warehouse. The Park is located 20 miles east of Houston in Chambers County.

Cedar Crossing is considered the fifth largest industrial park in the world and it is equal to three-fourths that of New York’s Manhattan Island, according to Cushman & Wakefield.

Approximately 65 percent of the park remains undeveloped and is available for future expansion.

Cedar Crossing offers dual rail service (Union Pacific Railroad and BNSF) with considerable rail infrastructure — 57 miles of rail within the park, with existing storage for over 2,000 railcars.

TGS said it will to expand the industrial park’s rail capacity to 3,000 railcars by 2018 to accommodate increasing petrochemical and refining demand.

Cedar Crossing has water access for barges and docking facilities. It is not far from the Port of Houston, Bayport and Barbour’s Cut, which are major shipping outlets. The site is a few miles from the Exxon Mobil Baytown Refinery, which is the largest refinery in America.

TGS will have approximately 1,500 plastic pellet railcars committed to the facility. The many chemical plants on the Gulf Coast produce plastic pellets which are shipped around the world for manufacturing consumer products and other plastic goods.

Prior to the acquisition, TGS executed a ten-year extension of a railcar storage agreement with Union Pacific Railroad that originally dates back to the 1990s. TGS will continue to operate the railroad and assume operations and development of the industrial park.

To date, Cedar Crossing has attracted many top-tier companies with significant operations:

• Home Depot’s 755,000-sf distribution hub,
• Walmart’s 4.2 million-sf import center (their largest in the U.S.),
• JSW Steel’s plate and pipe manufacturing facilities, and
• Borusan Mannesmann’s $148 million steel pipe manufacturing facility.

Other occupants include Exel, S&B Engineers, National Oilwell, GE Water, TMK-IPSCO, Century Asphalt, Samson Controls and LS Energy Fabrication.

Read more at Realty News Report.
(Texas real estate news)