Houston, TX – September 24, 2010 – (RealEstateRama) — CB Richard Ellis is pleased to announce that East Belt Business Park is now 100% leased. The 350,000 sq. ft., four-building complex is a development of Trammell Crow Company and Morgan Stanley Prime Property Fund. The speculative project was constructed in two-phases, with the second phase completed in 2008. The Class A warehouse/distribution park is situated near the Port of Houston along the East Sam Houston Parkway South in Pasadena, Texas.
Faron Wiley of CB Richard Ellis assisted Trammell Crow Company in the following recent deals that helped East Belt Business Park reach 100% occupancy:
- 4,880 sq. ft. to Airgas Southwest, Inc. and 14,265 sq. ft. to Axion Logistics, Ltd in Building 1, located at 1455 East Sam Houston Parkway South – Clay Pritchett and Troy Collins of Holt Companies represented Airgas and Ryan Fuselier of Jones Lang LaSalle represented Axion
- 44,800 sq. ft. to Doerle Food Service, LLC in Building 2, located at 1465 East Sam Houston Parkway South, represented by Jerry Mueck of Heritage Texas Properties
- 68,833 sq. ft. to Wrist USA, Inc. in Building 4, located at 1485 East Sam Houston Parkway South, represented by Bob Berry and Ryan Fuselier of Jones Lang LaSalle
“It is exciting to see two existing tenants expand and two new tenants select East Belt Business Park this year,” said Jeremy Garner, a vice president with Trammell Crow Company. “We are pleased to have these great companies contribute to the success of this project. East Belt Business Park has proven to be a very good location for companies servicing the port area.”
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2009 revenue). The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
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