NAI Partners Represents TGS Cedar Port Industrial Park with Disposition of ±200 Acres to Global Plastics Industry Leader
Houston, TX, October 25, 2016 – TGS Cedar Port Partners is pleased to announce the sale of approximately 200 Acres to Ravago Americas, a global distributor of a wide range of plastic and rubber materials from high performance engineered resins to recycled post-industrial and post-consumer materials.
This transaction represents the second major development in TGS Cedar Port Industrial Park’s “Phase 2”, an approximately 750-acre tract that has road access to Highway 1405 and Highway 99. TGS Cedar Port’s Phase 1 is fully contracted for development and Phase 2 is master planned and ready for developers to commence construction immediately on approximately 400 remaining acres.
TGS Cedar Port previously announced a series of infrastructure improvements that support pending transactions, including the Ravago transaction, as well as future development.
The Ravago project includes rail service and direct access to Highway 1405, and Ravago plans to develop facilities to support its distribution and manufacturing activities. Though Ravago is already a major player in the Greater Houston market, the TGS Cedar Port operation is required by the increased plastic resin production in the U.S. Gulf Coast and will be additive to Ravago’s existing operations. This multi-use campus is expected to handle in excess of two billion pounds of plastic resin annually.
William F. “Bill” Scott, President of TGS Cedar Port Partners stated, “Since acquiring TGS Cedar Port Industrial Park back in December of 2014, Cedar Port Partners’ vision has been to create the railroad infrastructure and operations capability to serve the greater Houston market; as well as the nation with a global reach. We are thrilled to have Ravago Americas come to the park, and we have enjoyed their pragmatic approach to support their industry’s expansion constraints. We appreciate the assistance from Chambers County, City of Baytown, Chambers County Improvement District #1, and the community at large in encouraging Ravago to locate at TGS Cedar Port. The local economy will benefit by having local plastic resin logistics alternatives that increase the local tax base and create local jobs from the expansion in resin production.”
Sean Williams, Vice President of Operations for Ravago stated, “Ravago is a fully integrated plastics resins company and is responding to our customers and suppliers wishes to increase our footprint in the Greater Houston market. Chambers County and the City of Baytown have been supportive in allowing us the opportunity to develop a premier operation to support the vibrant plastic resins market in the U.S. Gulf Coast. The local labor market in Baytown and the surrounding areas is the highest caliber in the country, and we expect to establish a dynamic workforce to provide the agility that our customers and suppliers require.”
TGS Cedar Port Industrial Park is located in Chambers County near Baytown, Texas and comprises ±15,000 acres with heavy utilities and industrial and commercial transportation infrastructure. The Park is both barge served and rail served by the Union Pacific and the BNSF Railroads. TGS Cedar Port Partners as of October 10, 2016 has +/- 11,000 acres available for sale or lease including in excess of 3 miles of barge depth waterfront.
John Ferruzzo, SIOR, John Simons, and Joel Michael, SIOR, all Partners with NAI Partners represented the seller, TGS Cedar Port Partners, during negotiations. Gray Gilbert with CBRE represented the buyer, Ravago Americas.
For additional information please contact either John Ferruzzo, SIOR, John Simons, or Joel Michael, SIOR, at 713.629.0500.