Commercial real estate development is important to Texas' economy. As these developments grow, so do the businesses that build the developments. While there has been some doubt about the health of the real estate market following the oil price declines, developments are still being built around the Houston area.
Recently, FedEx announced that it would build a large distribution center in Cypress, Texas. According to reports, this distribution center will be the company's largest in Texas. It will be built near the intersection of North FM 529 and Grand Parkway. When it is completed in August 2017, the distribution center will be a total of 800,000 square feet.
This new distribution center will be in addition the center that is already been built in Sugar Land, Texas. FedEx says that this new distribution center is necessary in order to meet the demands of the distribution needs in the Houston area. Since 2005, 11 new distribution hubs have been built by the company and it has expanded to more than 500 local facilities.
This newest location was chosen, according to the company, because of its proximity to highways, the local workforce and proximity to customers' distribution centers. It is hoped that this facility will help to boost the volume capacity of the delivery company and increase speeds for deliveries in the area.
There are many considerations that go into a commercial real estate development project. Through these projects, many commercial real estate issues can arise. Keeping potential issues in mind from the beginning of a commercial property project can help to eliminate issues further down the line. Developers, property owners and potential tenants need to understand their legal rights when considering a commercial development.
Source: Houston Chronical, "FedEx to build massive facility in Cypress," Nancy Sarnoff, Jan. 25, 2016