The Great 290 Distribution Center Sells
Media Features:
PAGEWOOD Completes Sale of The Great 290 Distribution Center
PAGEWOOD, a commercial real estate owner, operator and developer with a growing regional footprint, announced the sale of The Great 290 Distribution Center (“The Great 290”) — an industrial Class A cross dock facility boasting one of the city’s largest footprints located in Northwest Houston near Interstate 290 and Grand Parkway.
“We are thrilled The Great 290 Distribution Center has sold after we leased the facility to Daikin,” said Paul Coonrod, Founder and Managing Principal at PAGEWOOD. “By utilizing our data science investment approach and leveraging The Lighthouse, we were able to study the supply and demand imbalance for large industrial space in Northwest Houston, design and build a distribution center to bridge the gap, lease the space and sell the property.”
Acquired by Sealy & Company, The Great 290 was designed by architect Powers Brown Architecture in collaboration with PAGEWOOD’s team. The Great 290 sits on 64 acres with high visibility along Highway 290. 32% of the site’s perimeter has Highway 290 frontage compared to 15% of the majority of other industrial development frontage. Characterized by its dark color and wood accents, the building sits on 41 acres of the 64 total acres—allowing additional space for Daikin to utilize for outdoor trailer parking, storage, or additional amenity space. Two points of ingress and egress were designed on both sides of the building, allowing a circulation loop to be built around the warehouse for ideal logistics access.
“We designed and built The Great 290 to meet the immediate market demand while considering the future needs of industrial space in Northwest Houston,” said Mat Volz, Managing Principal of PAGEWOOD. “With Daikin committing to the lease and the subsequent sale of The Great 290, it’s clear The Lighthouse is a cutting-edge, proprietary tool for our team to continue making informed real estate investments.”
Designed by PAGEWOOD, The Lighthouse’s machine learning, time series predictive algorithm tracks thousands of commercial properties and forecasts their growth potential based on millions of data points that are constantly updated—leading to the best locations for investment. The quantitative formula is built on three fundamental cornerstones including data analytics, geospatial integration, and data science.
Trent Agnew and Charlie Strauss with JLL represented PAGEWOOD and the buying firm represented themselves.