HOUSTON – July 27, 2016 – CBRE announces leading Gulf Coast resin packager, Packwell, has signed a 286,000 SF industrial lease at Bayport Distribution Center in Pasadena, Texas.
Packwell is an ISO 9001 certified plastics bagging and logistics company headquartered in Houston, Texas. In North America, the company is amongst the largest resin bagging companies, with over 1.2 million square feet of warehouse facilities. The new industrial space at Bayport Distribution center will be primarily used for packaging and storing plastic resins.
“Our competitive advantage lies in our ability to provide efficient solutions for our customers’ bagging, packaging and logistics requirements,” Al Duran, President, said.
While the property’s rail storage and access to rail service were a large part of the decision to occupy this space, Bayport Distribution Center’s access to the port created an optimum solution for Packwell’s growing needs. “This new property is part of our company’s expansion plans within the Houston market,“ Mr. Duran said.
CBRE Senior Vice President Bill Rudolf represented Packwell in lease negotiations with the landlord, 1PT Bayport DC LP. The landlord was represented by Jason Dillee with Cushman and Wakefield.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
