null - Read Avison Young News Here | Avison Young US - United States
Avison Young news: Find out the latest industry happenings
Quarterly and topical research insights to help your business gain competitive edge in commercial real estate.
Avison Young tapped by The BAUER Group to market 79-acre Class A industrial redevelopment project in Conroe, TX
August 19, 2022
Houston, TX – Avison Young’s Drew Coupe and Dawson Smith who are both out of the firm’s Houston office have been tapped to market NorthStar Industrial Park, a Class A industrial redevelopment project located at 100 FM 3083 in Conroe, TX. The 79-acre site, which currently encompasses five manufacturing and warehouse buildings totaling just under 200,000 square feet (sf), was formerly the U.S. headquarters of The BAUER Group’s subsidiary, NEORig. As part of its efforts to maximize the value of its former site, BAUER has also teamed up with DIBAG Industriebau AG, a German real estate developer that will provide additional consulting services and real estate expertise alongside Avison Young.
The BAUER Group, an international construction and machinery manufacturing concern with more than 110 subsidiaries in some 70 countries that provides services, machinery and products for ground and groundwater, has owned the Conroe property since beginning development of the park in 2009. BAUER’s business plan is to lease the five existing Class A buildings as well as market opportunities for both distribution and manufacturing build-to-suit projects on the site’s 31.5 acres of excess land. Once built out, NorthStar Industrial Park could total up to 500,000 sf of building space.
“Our Avison Young team is honored to head up the marketing and leasing effort and provide local insight that will shape the direction for NorthStar Industrial Park on BAUER’s behalf,” said Coupe. “Ranking as one of the nation’s fastest-growing cities, Conroe continues to experience strong tenant demand for quality industrial product.”
Coupe added, “The positive feedback we received from users and the brokerage community prior to officially launching this project, as well as the support given by the Conroe Economic Development Council, has been very encouraging.”
“With limited industrial land and available large blocks of space in the region, we feel users will be attracted to this project as it features existing infrastructure, a strategic logistical location, available state-of-the-art facilities, and a business-friendly environment for users seeking to fast-track build-to-suit opportunities. Ultimately, this project provides occupiers the flexibility to satisfy a wide array of industrial requirements that the Conroe market has not been able to accommodate,” said Smith.
NorthStar Industrial Park is strategically located east of Interstate 45 with access from both Loop 336 and FM 3038 and is about one hour north of Houston. The greater Houston industrial real estate market continues to exhibit strong fundamentals, sitting at around 6% vacant today.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.