Colliers International is pleased to announce the sale of Weatherford Farms, a 34.3 acre commercial property located at 13223 Murphy Road in Stafford, Texas. The buyer, Crow Holdings Industrial, was represented by Cory Driskill and Travis Covington also of Crow Holdings Industrial. Barkley Peschel and Jason Scholtz of Colliers International represented the seller in the transaction.

Crow Holdings Industrial plans to build a 568,084 square foot, three building industrial development on the site. Weatherford Farms features extensive road frontage along both FM 1092 and Mula Road and will provide an excellent location for industrial distribution or flex space. The project is planned to be delivered Fall 2021.

"Stafford’s strategic location and advantageous tax structure along with their pro-business approach create a strong driver for business. The Weatherford Farms site being centrally located along FM 1092 between Highway 59 and Highway 90 provides great connectivity to major population and business centers as well as high visibility along a major thoroughfare," said Managing Director of Crow Holdings, Cory Driskill. "This makes for an attractive location for us to develop state of the art office warehouse buildings to serve those businesses. We appreciate the support of the Weatherford family and the City of Stafford, and we are excited to see this project come to fruition."

Barkley Peschel, Jason Scholtz and Walter Menuet of Colliers International will be handling the leasing for the property.

"Weatherford Farms is blessed to have been a part of the Stafford community for more than 50 years," said Jack Weatherford. "The property's location is great for the developing plans and we can't wait to see what is in store. Thank you to the Colliers team for helping us through the selling process."

The Southwest Corridor recorded 671,700 SF square feet of positive net absorption during the first half of 2020 and is 92.4% occupied. The average quoted rental rate rose over the quarter from $8.48 per square foot to $9.39 per square foot. Approximately 3,655,000 square feet of industrial space was under construction at the close of Q2 2020 in the Southwest Corridor.

About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.