Activity in northwest Houston’s land market is still strong. Land sales and development activity continue at the brisk pace that began several years ago.
Most of the sales and development activity is primarily for industrial development (both for users and speculative), residential single-family homes and retail development. And, despite the fact that office development activity is generally low around Houston, the northwest sector has several speculative office buildings projected for construction this year. Specific projects by category include:
Land sales along U.S. 290, historically the hot corridor for industrial development activity in the northwest, are slowing due to limited availability of large development sites. The majority of business park land in that area has been developed over the last few years so users and developers are shifting their focus to Beltway 8 for suitable sites.
Some recent major industrial development deals include a Transwestern Property Co. project on Beltway 8 near Clay Road. Transwestern is building 108,000 square feet of dock-high distribution and 78,000 square feet of semi-dock service center.