Colliers is pleased to announce i3 broke ground on 3° Red Bluff, a new cold storage facility located at 1050 Red Bluff Road in Pasadena, Texas. The development is a quarter mile north of the Red Bluff/Highway 225 intersection, just east of 610 Loop.
The 12 acre, Class A cold storage business park will feature two cold/frozen storage buildings totaling 148,900 square feet. 3° Red Bluff has preleased 62% of Building 1 to Houston Meat Distributors, leaving a remaining availability of 42,000 square feet. A second free standing building totaling 52,000 square feet is slated to break ground Q3 2021. With insulated metal panel skin, 36 foot clear heights, and insulated floors throughout to accommodate freezer temperatures, the buildings can be customized to fit a variety of cold storage needs, from bulk distribution to food processing. i3, the developer, will deliver 3° Red Bluff in late Q3 2021.
“The project is well positioned from a location and design perspective to meet the demand for freezer/cooler space in the Houston market. The changing landscape in which consumers shop for groceries, food, and beverages, as well as a recent lack of new cold storage supply, have combined to generate significant demand for new and efficient cold storage space designed to meet the challenges grocers, retailers, and suppliers currently face. 3° Red Bluff is perfectly suited to address those challenges and is a strategic addition to the 3° Cold Storage portfolio,” said John Joubert, Executive Vice President of i3.
The leasing team includes Zachary Taylor, John Nicholson and Trey Horne of Colliers. This team has 30 years of combined experience and has closed transactions totaling more than $2 billion during their careers.
"We are incredibly pleased with the amount of interest this project has received from the beginning," said Senior Vice President, Zachary Taylor of Colliers. "Houston has an extremely limited inventory of cold storage product and 3° Red Bluff is uniquely positioned to capitalize on both last mile delivery and cold/frozen product moving through the Port of Houston."
i3 is a full-service real estate firm focused on the acquisition and development of investment grade assets with a core focus on multifamily, healthcare, and cold storage & logistics facilities. With current offices in Houston, Miami, Orlando, and Charlotte, i3 maintains a diversified product type and geographic focus with approximately $600 million of current projects in Texas, Louisiana, Alabama, North Carolina, Florida, and Arizona. For more detailed company information, please reference the website at www.i3interests.com