US' Liberty Development Partners acquires Gulf Inland Logistics Park

Adjacent to Gulf Inland Logistics Park, a recent 200-acre acquisition by the partnership will expand the park’s capacity to serve the increasing demand for rail served industrial sites. Gulf Inland Logistics Park features immediate access to the Grand Parkway and US Highway 90 as well as the two largest US Class I Railroads, the BNSF Railway and the Union Pacific Railroad, Liberty Development said in a press release.

The strategic location at the intersection of the Grand Parkway and US Highway 90 provides nearby access to Interstate 10, Interstate 59, Interstate 45 and State Highway 146. Gulf Inland Logistics Park is located within 100 miles of five Texas ports – Houston, Beaumont, Port Arthur, Galveston, and Freeport. One of the few dual rail served sites available in the region, Gulf Inland Logistics Park provides an excellent site for logistics, transportation, and manufacturing businesses to locate and grow their business.

Trez Capital provided a $66.5 million loan for acquisition of CMC Railroad and the land to facilitate development of the first phase of the project to transform the logistics park into a world-class manufacturing, distribution, storage, and transportation hub for industrial companies.

CMC Railroad has worked closely with the City of Dayton and Liberty County to establish a tax increment reinvestment zone for the site. The first phase of improvements includes the creation of the Municipal Utility District No. 9, drainage improvements and regional detention, a benefit to incoming industrial tenants. The first phase of improvements will also include the expansion of Stilson Road to 41 feet wide with full concrete to accommodate heavy haul trucks and to improve Gulf Inland’s connection to Highway 90. Utilities including water, sewer, and fibre have already been connected to Gulf Inland Logistics Park through Stilson Road.

The next phase of development will include expanding rail storage capacity by up to 2,700 storage spaces through CMC Railroad and widening and improving Rolke Road to the same standards as Stilson Road providing Gulf Inland Logistics Park a second connection to US Highway 90.

“For many years, Gulf Inland Logistics Park held great unrealised potential. This acquisition and funding will immediately transform the park into a valuable hub for the region’s transportation, industrial and manufacturing industries. Gulf Inland Logistics Park has the potential to bring in excess of $1 billion in private investment and as many as 5,000 living wage jobs to Liberty County and surrounding areas. We’re moving forward and already have major improvement projects ready to roll in the first 180 days after closing,” Paul Connor, principal of Connor Investment Real Estate, a Houston-based private equity real estate firm, said.

“We are pleased to provide financing to Liberty Development Partners for the acquisition of CMC Railroad and Gulf Inland Logistics Park. The industrial market is one of Houston’s strongest real estate sectors with exponential demand and growth. This property - with its proximity to the Port of Houston, direct access onto the major rail line operated by BNSF and Union Pacific and at the intersection of two major freeways - is strategically positioned to meet current and future industrial demands,” John Sullivan, vice president of Trez Capital, said.

“I have been involved with the project since 2008 and I am excited to see the vision for Gulf Inland Logistics Park become a reality. The goal is to create a world class master-planned rail-served industrial and transportation park that benefits not only the city of Dayton and Liberty County, but also the entire region, by attracting global corporations that will bring investment and jobs. I am excited about this partnership and the team we have assembled, and we look forward to executing the first phase of the development and bringing new businesses to the site,” Marcus Goering, principal of Logistics and Development Resources, said.

Fibre2Fashion News Desk (GK)