Avera Acquires Land and Confirms Tenant for Development at Houston Ship Channel
HOUSTON – (October 17, 2016) – Avera, a commercial real estate development, construction, and investment firm is announcing the acquisition of HMS 850, a 41.7 acre site at the entrance of the Houston Ship Channel.
HMS 850 is located in SE Houston, near both Barbours Cut and Bayport container terminals, with direct access to IH-10 and Independence Parkway, directly across from the San Jacinto Battleground State Historic Site.
There are existing permits in place at HMS 850 that afford the ability to utilize 4 distinct lease areas: Barge Terminal and Fleeting Area, DMPA (Dredge Material Placement Area), Potential Reclaimed Land, and Future Fuel and Deep Water Terminal Distribution Facility. According to a representative from the U.S. Army Corp of Engineers, “Barge fleeting space is at a premium, and potential sites are extremely limited in the ship channel.”
Kirby Inland Marine will be the first tenant to occupy a portion of the property. Kirby will utilize an area of approximately 700’ x 2000’ which will provide the necessary area for mooring 76 barges.
“The acquisition of HMS 850 provides us with the exceptionally rare opportunity to help accomodate the rapidly increasing need for barge fleeting and deep water terminal space, in what is arguably the most desirable location in the ship channel,” said Trey Odom, President and CEO at AVERA Companies, “The existing permits at HMS 850 enable an otherwise ordinary site to function as a critical component of industrial activity at the Houston Ship Channel, affording advantages that are simply unavailable in the current market.”
The seller was represented by Rob Stillwell and Doug Nicholson, both Senior Managing Directors at Newmark Grubb Knight Frank.
The HMS 850 project is accretive to other Avera developments near the Port of Houston, totaling more than 1.2 million SF.