Robert D. Stratton, president of Verandah Development Co., tells GlobeSt.com that demolition and clean-up will take four to six months. The demolition includes a 150,000-sf warehouse and two-story, 30,000-sf office building.

The Verandah Cos. will use its construction and management subsidiaries from start to finish for the project, designed by Wahlberg Wright Architects of Houston. The plan is to break ground in late second quarter or early third quarter 2003, with delivery penciled in for early 2004.

About nine acres were bought from National Oilwell, a tract that once housed the headquarters of Bowen Tool Co. David Adickes of Houston sold the balance of the project area to Verandah. Confidentiality clauses barred disclosure of the selling prices. According to the Harris County Appraisal District, the land is assessed at nearly $2 million, most likely a fraction of the selling price.