Parkside Capital Sells 56-Acre Tract in West Ten Business Park to Medline Industries, Inc.
Parkside Capital announced the sale of a 56-acre tract in West Ten Business Park to Medline Industries, Inc. for construction of a 500,000-square-foot facility in Katy/West Houston.
West Ten Business Park is a 470-acre master-planned business park located on the north side of Interstate 10, between FM 1463 and Pederson Road. The land was assembled in 2008 by Parkside Capital with the view of creating a deed-restricted and architecturally-controlled business park to serve Katy/West Houston. All of the property is within the City of Katy and is served by the city’s water, sewer and municipal services.
Based in Mundelein, Illinois, Medline is the largest privately held manufacturer and distributor of medical and surgical supplies in the United States. The company has 35 regional distribution facilities in the United States, including two in Texas, and this new facility will enable Medline to expand its growing presence in Houston and throughout the region. Medline’s other Texas distribution centers are Dallas and San Antonio. The new Houston facility will be targeted for completion in June 2013.
Catherine Morrison, Sr. Vice President of Real Estate Operations for Medline stated that Medline looked at a multitude of sites in Houston for its facility but chose West Ten and Katy due to its location, access, amenities and sponsorship. She noted, “Medline is excited to be a member of the Houston community and expand our capabilities to services more health care providers in the greater Houston area. This new facility is a vital part of the future growth of Medline.”
Medline has applied for property tax abatement from the City of Katy and Waller County. The City recently re-established its incentives guidelines to accommodate this project and to induce future projects to locate in the City limits. Medline may also seek to establish a Foreign Trade Zone Designation and Texas Enterprise Zone designation.
Mayor Don Elder, Jr. welcomed the news, noting Medline’s prominence in its industry virtually assures a rippling effect of business growth for Katy and the surrounding area, “This is an exciting way to kick-off the first project in the West Ten Business Park,” noted Mayor Elder. We are pleased that Medline has chosen Katy to establish their operations and create 50 + new jobs in the City of Katy.”
Katy Area Economic Development Council President/CEO Lance LaCour noted that Medline will be the first new major distribution center built in the Katy/west side market since Rooms To Go was completed in 2010. LaCour noted, “The EDC began working on this project about a year ago and is facilitating the incentives program applications. Companies like Medline are on our target industry list and part of our economic development strategic plan. I want to thank all involved for working together cooperatively, and especially Parkside Capital, the City, Waller County and Waller EDP for their support of the project.”
Quote from Waller EDP:
The Greater Houston Partnership worked in the initial phase of this project to introduce Medline to the Houston region. “We are pleased that Medline has chosen Katy for their Houston distribution center and welcome them to Houston. The Katy Area continues to enjoy success in attracting regional distribution centers. Congratulations to Katy Area EDC on a job well done,” says Craig Richard GHP.
Cushman and Wakefield represented both parties with Kelley Parker, John Littman, Coe Parker, and Tim Thomas representing the Seller and David Cook, Jeff Peden and Will Condrey representing the Buyer.
