Grand Parkway sparks sale of Pine Business ParkGrand Parkway sparks sale of Pine Business Parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=52162014-01-21T06:43:00Z2014-01-21T00:00:00Z

HOUSTON - The Pines Business Park, a 139,330-sf business park, was sold in December 2013. Pines comprises three light industrial buildings in north Houston at 26009 Budde Rd., just off of I-45.

Constructed in 2009 the property has suites ranging in size from 7,000 to 45,000 sf. At the time of the sale, the Class A buildings were completely leased.

The Grand Parkway is being credited with driving the transaction. The parkway will run from I-10 in Katy to US 290 to US 59 N. The road connecting Katy to Kingwood has been called a "game changer" by many real estate experts in Houston.

Houston had a vacancy rate of 5.3 percent, 1.8 million sf of net absorption and 7.8 million sf under construction as of fourth quarter 2013, according to CBRE Houston research.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/news/2014/01/14/industrial-tenant-activity-remains.htmlRead more at {Source}

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