Ridgeline Property Group and Archway Properties to Develop 685,400 Square Foot Park Air 59 in Humble, TX

RPG and Archway Properties form a joint venture in the State of Texas to develop commercial real estate properties

Humble, TX, September 11, 2018 – Ridgeline Property Group (RPG) announced today that it will form a joint venture with Archway Properties in the State of Texas. The venture’s first project will be the Park Air 59 industrial development, a 685,400 square foot industrial facility in Humble, Texas.

Located at Highway 59 and Will Clayton Parkway, Park Air 59 is only two miles from the Houston International Airport. The site also offers proximity to the Fed Ex Ground facility (7 miles), Port of Houston (25 miles), Houston Hobby Airport (27 miles) and Bayport Terminal (40 miles).  The property is just 3 miles from Beltway 8 and 10 miles from Grand Parkway.

Don Dennis, Managing Partner of Archway Properties stated, “It is exciting for us to be partnering with RPG in Texas. We believe their national relationships with capital sources, brokers and tenants, coupled with our local market expertise, creates an exceptional platform for us to grow our industrial presence.”

“Ridgeline Property Group is elated to partner with Archway Properties and expand our presence in the State of Texas. Ridgeline Property Group and the Archway team had a very successful previous working relationship and we are excited to continue RPG’s national platform growth,” said Greg Thurman, CEO of Ridgeline Property Group.

Ridgeline Property Group and Archway Properties are teaming with USAA Real Estate to develop the Park Air 59 project.

Scheduled for completion in the second quarter of 2019, the cross-dock facility will include 40-foot clear height, 8” slab, 60’ x 55’ column spacing with 65’ staging bays, ESFR sprinkler system, 153 dock high doors, 4 drive-in doors, 180’ truck court, 242 trailer parking spaces and 332 auto parking spaces. In addition, the site has a favorable Ad Valorem tax rate which was 2.47% in 2017.

Park Air 59 will be the first speculative 40’ clear height building in the Houston area.

Mark Nicholas, SIOR, Richard Quarles, CCIM and Joe Berwick of Jones, Lang, LaSalle, are marketing the property for lease.

Houston is the 4th largest city and 8th largest industrial market in the United States.  It has had the highest population growth of top 10 largest cities in the U.S. during the past 5 years and home to 26 Fortune 500 companies.

About Ridgeline Property Group

Ridgeline Property Group is a commercial real estate development and investment company operating throughout the United States. Headquartered in Atlanta, the firm has a particular focus on the acquisition, development and management of high-quality industrial and office properties in strategic markets. RPG’s regional partners have more than 125 years of combined experience in the commercial real estate industry and have developed in excess of 115 million square feet of space in more than 30 states.  For additional information, please visit www.ridgelinepg.com.

About Archway Properties

With offices in Houston and Dallas, Archway Properties offers a broad range of real estate services to its clients and partners including acquisition, development, project management and asset management. Our principals have successfully completed projects with a total value in excess of $1 billion. For more information, please visit www.archwayprop.com.