Wolff Companies Sells Last Site at Interwood Business Park to Susser Petroleum Partners LP
Wolff Companies has sold its last remaining parcel of developable land in the Interwood business park, located at Beltway 8 and John F. Kennedy Boulevard, to a subsidiary of Susser Petroleum Partners LP.
“This transaction completes our development goals for the Interwood business park,” said David W. Hightower, executive vice president and chief development officer, Wolff Companies. “Our vision for Interwood was to create a business park of the highest standards in a strategic location within close proximity to Bush Intercontinental Airport and with access to network major expressways. We were confident these factors, as well as ensuring each building site was carefully planned to preserve the quiet beauty of the natural habitat, would attract high-profile companies. Today, Interwood includes the international operations of a number of Fortune 500 companies and four federal agencies, many of which constructed award-winning buildings. Our vision has come to complete fruition.”
Interwood, a 440-acre business park introduced to the market in 1983, has become home to companies that include Coventry Healthcare, Exxon/Mobil, Federal Express, Halliburton, Houston Firefighters’ Relief and Retirement Fund, U.S. Foodservice, Schulz, USA and the North Houston Operations Center of the United States Postal Service.
Additionally, significant projects in the design or construction phase at Interwood include:
- Suhm Spring Works, Inc. is designing a 117,000-square-foot headquarters and a primary manufacturing and distribution center that will be located at the intersection of Heathrow Forest Parkway and FM 525. Construction is expected to be completed spring of 2013.
- Pelican Worldwide, Inc. is wrapping up construction on its 41,600-square-foot building that will serve as its new global headquarters and primary distribution center. The complex will be located at the northeast corner of the intersection of Heathrow Forest Parkway and Interwood South Parkway.
- The Social Security Administration’s Office of Dispute Adjudication and Resolution is constructing a 19,350-square-foot facility, located on the north side of FM 525 (Aldine-Bender Road) and west of Heathrow Forest Parkway.
- Chipolbrok Americas completed construction earlier this year on a 46,800-square-foot headquarters facility, located on Heathrow Forest Drive. A global company, Chipolbrok is a wholly owned subsidiary of the Chinese Polish Joint Stock Shipping Company.
“While this sale represents our final transaction in Interwood, the park and the immediate environs continue to attract new investment,” said Hightower. “In the past 24 months, there have been 17 facilities completed or commenced, totaling just under one million square feet, not to mention major expansions at the Halliburton and GE Oil & Gas campuses immediately west of Interwood. Susser Petroleum selected the Interwood site to bestrategically situation at the center of all this new growth.”
Danny Miller with Gulf Coast Commercial Group, and Radius Realty Advisors’ Richard Buxbaum represented the buyer in the transaction.