AVERA Companies to Develop Rail-Served Facility for Global Petrochemical Marketer
HOUSTON – (May 11, 2017) – AVERA Companies, a commercial real estate development, construction, and investment firm, is announcing that Vinmar International, a global petrochemical marketer and distributor, has signed a long-term lease for a rail-served industrial facility, to be developed by Avera.
“Vinmar is pleased to be working with Avera to develop this project as part of our global growth strategy. It demonstrates our long term commitment to our industry and will create good jobs for our community” said Hemant Goradia, Vinmar’s CEO.
The Vinmar development will be located within Cedar Port Industrial Park in Baytown, Texas. The building will be situated on a 40 acre site on Sutton Road, off of FM 1405.
Avera will construct a 500,006 SF build-to-suit project that will include in excess of 10,000 linear feet of rail, with four separate rail lines.
“We are pleased to develop another state of the art, rail-served, build-to-suit facility in what continues to be one of the most desirable submarkets in the region,” said Trey Odom, President and CEO of AVERA Companies, “The persistent demand is evidence of the depth of petrochemical industry in the Houston market.”
The tenant was represented by Kelley Parker and Kevin Snodgrass of Cushman & Wakefield.
About AVERA Companies
AVERA Companies is a Houston-based, fully integrated, partnership driven development, construction and investment firm that is dedicated to providing the highest quality real estate assets for clients and partners through innovation, value creation and integrity. For more information, visit averacompanies.com or call 713-783-9600.
Vinmar is a petrochemical marketing and distribution company headquartered in Houston with a global presence. Vinmar has been ranked among the top privately held companies in Houston by the Houston Chronicle and ranked third in a global ranking of chemical distributors by ICIS Chemical News.