Provident Industrial Sells Hall Road Distribution Center
Provident Industrial has achieved a remarkable milestone with the successful sale of the Hall Road Distribution Center. This distribution center has found a new owner in David Wang and Yong Lin, who operate Ocean Kingdom, a local seafood logistics company. This facility will act as their operational headquarters, allowing them to efficiently handle the import and distribution of frozen seafood sourced from around the world.
Details of the Hall Road Distribution Center
The Hall Road Distribution Center is a significant addition to Provident Industrial's portfolio. This impressive facility, located on Hall Road, spans 139,000 square feet and features a spacious 32-foot clear height, along with 32 dock doors, two ramps, and 60-foot speed bays for effective logistics operations.
Strategic Location Benefits
Positioned strategically just south of Hobby Airport and along the Beltway 8, the distribution center offers excellent connectivity. It has direct access to I-45 South and is conveniently located within 18 miles of Bayport Terminal and 23 miles from Barbours Cut Terminal. This prime location is particularly advantageous for cross-border logistics, making it an essential hub for distribution operations.
Project Development and Leadership
The project was completed with the expertise of Angler Construction, and was a collaboration effort between Provident, Junction, and Singerman Real Estate. Christen Vestal, who serves as Provident's Industrial, South Central Director of Development, played a pivotal role in overseeing the project from the initial stages right through to its successful completion. In discussing the Houston industrial market, Vestal highlighted the growing trend among logistics companies to own their facilities, emphasizing that this sale marks Provident's second building sold directly to a user.
Expanding Provident’s Industrial Portfolio
Provident Industrial is demonstrating its commitment to growth by expanding its industrial portfolio. Currently, they have a robust 8.2 million square feet of space under construction or in pre-development across various key markets. This growth spans several states, including Texas, Tennessee, Arizona, and the Carolinas, showcasing Provident's strategic approach to real estate investments over the past three years.
About Provident Industrial
Provident is a well-established privately held real estate and investment firm. With over 30 years of experience in navigating multiple market cycles, Provident stands out due to its foresight, adaptability, and ability to deliver exceptional risk-adjusted returns to its investors. Since its inception in 1991, the firm has successfully developed or invested in projects worth over $5.9 billion nationwide. For those interested in learning more about Provident and its impactful projects, the company’s website serves as a valuable resource.
Contact Information
For media inquiries, Christen Vestal is available at cvestal@providentrealty.net for more information about Provident Industrial’s projects and initiatives.
Frequently Asked Questions
What is the importance of the Hall Road Distribution Center sale?
This sale is significant as it highlights Provident Industrial's strategic approach to meeting the growing demand for logistics facilities owned by operators like Ocean Kingdom.
How big is the Hall Road Distribution Center?
The Hall Road Distribution Center encompasses 139,000 square feet of industrial space and features a height of 32 feet.
What advantages does the location provide?
The center's location offers excellent connectivity, being close to major access points like I-45 South and the Beltway 8, enhancing its operational efficiency.
Who oversaw the development of the distribution center?
Christen Vestal led the project from concept to completion, ensuring all details were managed effectively through various stages of development.
What is Provident's focus in its real estate investments?
Provident focuses on developing opportunistic and value-add strategies across various markets to deliver strong returns for its investors.
