Colliers secures new lease for Molto Properties in Northwest Houston

HOUSTON - Feb. 29, 2024 - PRLog -- 84 Lumber, the nation's largest privately held supplier of building materials, has signed a 142,100 square foot long-term lease in the Barker Cypress Distribution Center at 12020 Barker Cypress Road in Cypress, Texas. The landlord, Molto Properties, was represented by Wes Williams of Colliers and Conrad Bernard of Boyd Commercial.

"This is an exciting new lease for the Molto team as 84 Lumber strategically locates their new door shop just down the road from their existing Northwest Houston location," said Wes Williams of Colliers.

Barker Cypress Distribution Center is a new Class A distribution building in Northwest Houston with 142,100 square feet of space on 11.92 acres. It has frontage on both Barker Cypress and Highway 290. Wes and Conrad helped the Molto team acquire the land site on Barker Cypress and oversaw the successful lease up of the project. 84 Lumber has leased the entirety of the available space.

Founded in 1956 and headquartered in Eighty Four, Pennsylvania, 84 Lumber Co. (https://www.84lumber.com/) is the nation's largest privately held supplier of building materials, manufactured components, and industry-leading services for single and multifamily residences and commercial buildings. The company operates 310 facilities which include stores, component manufacturing plants, custom door shops, and engineered wood product centers in 33 states. 84 Lumber also offers turnkey installation services for a variety of products, including framing, insulation, siding, windows, roofing, decking, and drywall. A certified national women's business enterprise owned by Maggie Hardy, 84 Lumber was named one of America's Largest Private Companies by Forbes and also made the Inc. 5000 list of America's Fastest-Growing Companies in 2023.

The property is within the Northwest Corridor's Northwest Outliers industrial submarket, which contains 42.5 million square feet of inventory that is currently 95.6% occupied. Nine buildings with 1.4 million square feet of industrial space are currently under construction while 35 buildings totaling 673,088 square feet were completed during 2023 in the submarket. The average asking rental rate is $11.23 per square foot with net absorption totaling 2.7 million square feet in 2023.