NAI Partners Represents TGS Cedar Port Industrial Park with Disposition of ±40 Acres
Houston, TX, May 18, 2017 – TGS Cedar Port Partners, L.P. is pleased to announce the sale of ±40 Acres to Houston-based development firm, Avera Companies.
Avera Cos. will develop a 500,000 SF rail-served distribution facility for Vinmar International, a Houston-based Petrochemical marketer and distributor. The project will include 10,000 linear feet of rail, with four separate rail lines.
Per James Scott, President of Construction & Infrastructure for TGS, “this is an exciting time for TGS Cedar Port Industrial Park. This transaction continues to fuel our growth allowing us to further enhance our infrastructure. We made the commitment to invest millions of dollars of capital improvements into the park for major rail expansion projects which has given us the opportunity to attract international companies like Vinmar.”
Additionally, TGS Cedar Port Partners, L.P. is on schedule to complete a railcar storage expansion project by 2017 that will increase the capacity of its storage yard to 3,000 railcars. The expansion is driven by new long-term commitments from storage customers, and additional commitments are being negotiated that are expected to expand the storage capacity beyond 3,000 railcars. TGS Cedar Port Partners, L.P. expects to announce new industrial developments coming to the industrial park in the 4th quarter of 2017.
TGS Cedar Port Updates: TGS Cedar Port Industrial Park has approximately 3,000,000 SF of industrial development constructed or under construction since TGS Cedar Port Partners, L.P. acquired the industrial park in December 2014. In October 2016, TGS Cedar Port Partners, L.P. announced the development of approximately 200 Acres in a sale to Ravago Americas. Ravago Americas is constructing 750,000 SF facility and should be ready first quarter of 2018. IKEA U.S. recently occupied a 1,000,000 SF distribution facility at TGS Cedar Port Industrial Park. Also under construction on the corner of Hwy 99 and FM 1405 is the Oasis Truck Stop; which will include Dunkin Donuts.
Both the Vinmar and Ravago Americas facilities are in TGS Cedar Port Industrial Park’s Phase II, which is an approximately 750-acre tract providing road access to Highway 1405 and Highway 99. There is currently 194 additional acres available for sale in Phase II.
According to John Simons , Partner with NAI Partners, “TGS will now deliver Phase III at Cedar Port Industrial Park, which is an approximately 3,000-acre tract providing rail served bulk distribution and manufacturing sites. To meet the current market demand, Phase III will have the ability to accommodate smaller rail-served site requirements in the 14 to 20 acre size range.”
William F. “Bill” Scott, President of TGS Cedar Port Partners, L.P. stated, “Since acquiring TGS Cedar Port Industrial Park back in December of 2014, Cedar Port Partners’ vision has been to create the railroad infrastructure and operations capability to serve the greater Houston market; as well as the nation. Cedar Port has a global reach supported by the two Port of Houston world class container ports near the park. We are thrilled to see this trend continue to grow as Vinmar International enters the park. Vinmar is one of the largest users of the expanded Panama Canal and as such justifies the Port of Houston vision in expanding its container terminals.”
TGS Cedar Port Industrial Park, located in Chambers County near Baytown, Texas, comprises ±15,000 acres with heavy utilities and industrial and commercial transportation infrastructure. The Park is both barge served and rail served by the Union Pacific and the BNSF railroads. TGS Cedar Port Partners as of May, 15 2017 has +/- 11,000 acres available for sale or lease including in excess of 3 miles of barge depth waterfront.
John Ferruzzo, SIOR, John Simons, and Joel Michael, SIOR, all Partners with NAI Partners represented the seller, TGS Cedar Port Partners, during negotiations. Craig Cavalier attorney at law represented TGS Cedar Port Partners in the transaction.
For additional information please contact either John Ferruzzo, SIOR, John Simons, or Joel Michael, SIOR, at 713.629.0500.