Developers acquire CMC Railroad, Houston logistics park

Liberty Development Partners on July 11 announced the acquisition of CMC Railroad and Gulf Inland Logistics Park, a 1,158-acre rail-served industrial park near Houston.

A partnership between Connor Investment Real Estate and Logistics & Development Resources, Liberty also recently acquired 200 acres adjacent to the park, which will expand the park's capacity to serve the increasing demand for rail-served industrial sites, partnership officials said in a press release.

"For many years, Gulf Inland Logistics Park held great unrealized potential. This acquisition and funding will immediately transform the park into a valuable hub for the region’s transportation, industrial and manufacturing industries," said Paul Connor, principal of Connor Investment Real Estate, a Houston-based private equity real estate firm.

The park features immediate access to the Grand Parkway and U.S. Highway 90, as well as to BNSF Railway Co. and Union Pacific Railroad. The location also is within 100 miles of five Texas ports — Houston, Beaumont, Port Arthur, Galveston and Freeport. 

Major improvement projects at the park are "planned to roll 180 days after closing" on the acquisition, Connor said.

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.

CMC Railroad officials have worked 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.

Improvement plans also include 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 fiber 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, which will give the park a second connection to Highway 90.