Colliers is pleased to announce the lease of ±3.4 acres located at 605 Wayside Drive in Houston, Texas. The tenant, J.B. Hunt Transport Inc., was represented by Craig Jones of Fischer & Company. Zack Taylor, of Colliers Houston, represented the landlord, LP by Wayside Management, in the transaction.
"The ownership group purchased this asset last year due to its proximity to Houston’s Turning Basin Bulk Terminal. They thought the location would appeal to a variety of different users and could not be happier to have secured a lease with JB Hunt. This will be a fantastic long-term investment for the client," said Zack Taylor of Colliers.
The property is located in Houston's Downtown industrial submarket. The submarket contains 31.7 million square feet of industrial space, which is currently 95 percent occupied and the average asking annual market rental rate is $6.13 per square foot.