Industrial Developer Looks to SW Houston for First Project

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A new development and investment company in industrial real estate has launched its first project.

Constellation Real Estate Partners, with offices in Houston and Dallas, has partnered with Dallas-based Crow Holdings Capital to purchase 33 acres on South Post Oak Road near Fuqua for speculative industrial development.

Constellation was founded by Jeremy Giles and Hien Le to develop logistics properties in the Southeastern and Southwestern United States. Giles previously worked for industrial property company Prologis, while Le worked for JP Morgan Asset Management.

The company will open the Constellation Post Oak in June, consisting of a 304,400 square foot transshipment building with a clear height of 36 feet and a 121,800 square foot building with a clear height of 32 feet. The southwest Houston location, about a half-mile north of Beltway 8, suits e-commerce tenants who want to be close to customers both inside the Loop or in growing communities around the Fort Bend County, according to Constellation. The buildings could also attract HVAC, flooring, or building materials companies serving the homebuilding industry.

Constellation is pushing ahead with the project as demand for industrial real estate hit a record 28 million square feet in the past 12 months, while vacancy tightened to 6.1%.

“We believe in the strength of the market,” said Constellation partner JD Fields. “Demand continues to outpace deliveries and we are confident the market will continue to tighten in the near term.”

The project, which will be marketed to tenants requiring 60,900 square feet to 304,400 square feet, was designed by Powers Brown Architecture and Langan Engineering.

Zack Taylor of Colliers represented Constellation in the acquisition and will oversee the lease with Barkley Peschel. Delivery is scheduled for the second quarter of 2023.

Nike opens the “market of the future” at the CityCentre

Nike opened a Nike Live concept store in the CityCentre complex in Midway west of Houston, integrating Nike.com, Nike apps and consumer insights from the surrounding community into the product lineup and shopping experience .

The 5,298 square foot Nike by CityCentre located at 822 Town & Country Blvd. is designed to combine online and in-store shopping. Based on shopper profiles, the store will feature sport-style products such as Tech Fleece and Jordan apparel, as well as Air Force 1s, Air Max 90s, Blazers and retro Jordan shoes.

Houston joins other digital Nike Live stores, which integrate Nike.com, Nike App, Nike Run Club and Nike Training Club into the retail experience, in New York, Los Angeles, Chicago, Austin and Atlanta, among others cities. Customers can use apps to check the availability of specific products or get shopping advice.

The new store is also designed to focus on serving women, offering personalized service from the store’s athletes on product, bra fitting and styling sessions.

CityCentre is also home to a digital-focused Starbucks where customers order by app for coffee on the go. Online eyewear retailer Warby Parker also has a physical store at CityCentre.

Realty Associates unveils new tools

Realty Associates, a Houston-based real estate brokerage with more than 1,700 agents, unveiled enhancements to its website using software tools from Delta Media Group.

The new technology, which includes real-time listing alerts, valuation tools, driving time and mapping features, is designed to provide sellers with greater market exposure and better understanding of the real estate market. local to buyers in Houston, Austin, Dallas-Fort Worth, San Antonio and Harlingen.

Realty Associates is part of Latter & Blum, an independent real estate firm based in New Orleans with operations in Louisiana, southern Mississippi and Greater Houston. Delta Media is a real estate technology company based in Canton, Ohio.

katherine.feser@chron.com

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