Source: Commercial Property Executive
Date: January 11, 2024

HOUSTON – Constellation Real Estate Partners has acquired a 26-acre property in Houston, where it will develop Constellation Eldridge, a 537,375-square-foot speculative warehouse. CBRE’s Houston office will oversee leasing efforts.

Construction will start later this quarter, while completion is anticipated in the fourth quarter. Plans call for the demolition of a 102,034-square-foot office building, previously owned by Dril-Quip, an offshore drilling and production equipment company.

Seeberger Architecture designed the project. The Class A facility will feature 40-foot clear heights, 127 trailer stalls, truck circulation drives and 56-foot column spacing.

Constellation Eldridge will rise at 6401 N. Eldridge Parkway in Houston’s Northwest submarket, close to U.S. 290 and Beltway 8. Downtown Houston is 21 miles from the site, while George Bush Intercontinental Airport is 26 miles away.

CBRE’s leasing team comprises Senior Vice Presidents Faron Wiley and Joseph Smith. In August, the duo represented Trammell Crow Co. and Clarion Partners in two leasing agreements at their Rankin 45 Distribution Center, a 355,686-square-foot facility in Houston.

In November, Constellation partnered with Northwestern Mutual for the development of Constellation Mustang Crossing, a four-building industrial campus in Southlake, Texas. Construction is expected to start later this quarter, while completion is anticipated in early 2025.