Boomerang Interests Breaks Ground on 315,101 Square Foot Cold Storage Warehouse in Houston, Texas
First speculative cold storage facility to be delivered to Houston market
April 28, 2021
Houston – Boomerang Interests (website: www.boomeranginterests.com) today announced that it has commenced site work for Houston ColdPort, a 315,101 square foot speculative cold storage warehouse in Houston, Texas. Houston ColdPort, a joint venture between Boomerang and CenterSquare Investment Management, will be a state-of the-art facility capable of accommodating a variety of cold storage uses, including freezer and/or cooler cold storage, food processing/manufacturing and food distribution. Site work is expected to take approximately two months, after which building construction will commence. Boomerang expects to deliver Houston ColdPort in the second quarter of 2022.
“In 2018, Beau and I began researching the cold storage industry and quickly identified a need for cold storage development in the Houston market,” said Andy Cyrus, Co-Founder and Managing Partner of Boomerang. “Since then, we, together with our trusted partners, have invested significant resources into this development and it is with immense gratification that we announce the next steps in Houston ColdPort’s lifecycle.”
Houston ColdPort, located at 7500 Uvalde Road, is being constructed on a 22.48-acre site at the Northwest corner of Beltway 8 and US-90. The site is strategically located in the heavy-haul corridor of Port Houston and provides unparalleled access to the Barbours Cut and Bayport terminals and major US east-west and north-south thoroughfares – Beltway 8, US-90, Interstate 10 and Interstate 69.
“The pandemic accelerated and highlighted the growing demand for online ordering of refrigerated and frozen foods,” said Jeff Reder, Managing Director of CenterSquare Investment Management. “The improved efficiencies of modern cold storage facilities are desired by a variety of users servicing the food and beverage industries and beyond. Houston is a top target market for cold storage users given its large and growing population, central location, business friendly environment and of course being home to one of the largest ports in the world.”
ARCO Design/Build is designing and constructing Houston ColdPort. Houston ColdPort has been designed to provide ultimate flexibility to tenants and will feature a 50-foot clear height warehouse, a 60-foot-deep cold dock, 38 dock positions with vertical storing hydraulic dock leveler equipment, LED lighting throughout, a Tyco Quell dry fire sprinkler system, a 200-foot-deep truck court with 57 trailer parking spaces and ample automobile parking. Houston ColdPort can accommodate a single tenant or can be demised for a two-tenant layout.
“The existing inventory of cold storage facilities in Houston is largely outdated and inefficient when compared to the design for Houston ColdPort,” said Eric Safko, CEO of ARCO Design/Build. “We believe that this product type is exactly what Houston needs and are thrilled to be a part of the team.”
Boomerang has engaged Chris Cummings and Walker Barnett, of Colliers, to lease Houston ColdPort. JLL, led by Trent Agnew, Dustin Volz, Will Mogk, Michael Johnson and Wells Waller, arranged financing for Houston ColdPort.
About Boomerang Interests
Boomerang Interests is a Houston-based real estate development firm specializing in cold storage industrial development. Boomerang pursues speculative development, build-to-suit development, joint venture opportunities (partnering with manufacturers, wholesalers, retailers or 3PLs) or a hybrid of the foregoing to deliver cold storage solutions to underserved markets. Boomerang’s target customer segments include 3PLs, food wholesalers, food retailers, food manufacturers and other industries such as pharmaceutical and floral that utilize cold storage. For more information, visit www.boomeranginterests.com.
About CenterSquare Investment Management
CenterSquare is a global investment manager focused on actively managed real asset strategies. Headquartered outside Philadelphia with affiliate offices in New York, Los Angeles, London and Singapore, CenterSquare’s management team holds an average of 80 years of experience, with expertise across real estate and the liquidity spectrum. As of March 31, 2021, CenterSquare managed approximately $13 billion of assets on behalf of some of the world’s most well-known institutional and private investors. For more information, visit www.centersquare.com.
About ARCO Design/Build
ARCO Design/Build (http://www.arcodb.com) is a national design-build firm widely recognized as an industry leader for various industrial project types, including cold storage, warehouse, light industrial distribution and manufacturing. ARCO’s turnkey approach allows customers to have a direct relationship with one company, ensuring a single point of contact that will allow for clear lines of communication resulting in savings of time and cost. Capabilities include project feasibility studies, site selection, complete design, logistical design, budgeting, up-front competitive lump sum pricing, value engineering, code consulting and full general contracting.