Development Updates - October 2023
Construction at Generation Park is in full swing, and these latest updates reveal an exciting transformation taking place. With several major projects underway, here are a few worth mentioning.
Generation Parkway’s first segment Nears Completion in $29MM infrastructure Project
Generation Parkway’s first segment nears completion as the bridge’s freshly poured concrete cures as part of a $29MM infrastructure project that creates new roads, utilities, drainage, parks, trails, and lakes. Generation Parkway will eventually be the main thoroughfare of the development, connecting the west and east edges via 4-lanes of tree and trail lined boulevard.
The segment shown above connects between W. Lake Houston Parkway and Lockwood Road, providing access to HTX Surf, BioHub Two, Centris Industrial’s 1MM SF spec industrial building and more.
Pathways line both sides of the roadway, with The Ray, our extra wide pedestrian superhighway lining the north. and navigable lakes where visitors may kayak and fish. This portion of road is expected to be completed later this year.
$56MM of new infrastructure on schedule
New lakes, roads, and outfalls constructed to serve Target’s 1.4MM facility and bring online new sites for rapid development
The McCord team is nearing completion of over $57 million in new infrastructure on Generation Park east. These new improvements include wet and dry utilities, new roads, and off-site drainage that allows for fully developable sites. This project kicked off with the sale of 145-acres to Panattoni for Target’s 1.4MM SF distribution center.
Common Dock road, the core of our Urban Fulfillment Corridor (UFC) was constructed as part of this project and will serve as the truck access road for over 5MM square feet of industrial projects to come. Regular vehicular traffic will access Target and other sites via Timber Forest and Deussen Parkway. This separation of trucks from cars and pedestrians is paramount to the safety and experience of our community.
Big Progress on Target’s 1.4 mm sf Distribution Facility
Construction continues on Target’s massive 1.4 million square foot distribution center in Generation Park. As roads Common Dock rd., and Timber Forest take shape, the distribution center is coming to life. Panattoni Development acquired 145-acres of land from McCord in 2022 and is in charge of developing the 1.4 million square foot facility. The site will be part of Generation Park’s Urban Fulfillment Corridor (UFC), providing companies with a strategic location for their logistical needs and is only minutes from Downtown Houston, IAH international airport, and the Port of Houston.
Centris Industrial’s 255k SF FACILITY READY FOR Occupancy & 1MM SF available soon
Centris Industrial has two projects underway at Generation Park. A 255,000 SF side-load and a 1,000,000 SF cross-dock facility. Both properties are available for lease through CBRE’s Billy Gold and Faron Wiley. Their information is below.
The 255k SF facility is located on West Lake Houston Parkway, just south of Generation Parkway. This facility is now ready for occupancy having just finished completion.
The 1MM square foot distribution center is located on Generation Parkway and Lockwood Rd. It’s on the final stretch of construction with completion expected by year-end.
Both facilities have quick access to Beltway 8 via N. Lake Houston Parkway. And employees will enjoy hopping on The Ray, a 4-mile pedestrian superhighway giving employees access to nearby restaurants, shops, and other amenities without having to get in their car .
For leasing of these Centris facilities, please contact: Billy Gold | +1 713 5771709 | billy.gold@cbre.com or Faron Wiley | +1 713 577 1839 | faron.wiley@cbre.com
Generation Park Sales & Leasing
For sales and leasing information at Generation Park please fill out the form here.