Steve Jaggard, president and CEO of Vantage Cos. Houston Division tells GlobeSt.com that 262,000-sf first phase, which delivered in May 2001, is fully leased to six tenants. "So moving forward with phase II was an easy decision to make," he said in a press release.

The park is situated at the northwest corner of Sam Houston Parkway/Beltway 8 and US Highway 59. The southwest submarket, Jaggard points out, has less inventory, a higher occupancy and good prospects for new product than perhaps the northwest, where there is a glut of open industrial space. He stresses that developers must "dissect the market" before jumpstarting work.

Jaggard confides the second phase will break ground with 7,000 sf pre-leased to Houston-based eNetsolutions LLC, a computer network systems provider. The project will roll out in two 21,000-sf office/flex buildings and a 50,000-sf distribution/warehouse building.

Vantage Construction Management will oversee the project, ticketed to deliver in May. Comerica Bank of Texas has provided construction financing. Huitt-Zollars of Houston is the architect and also is handling engineering services. EMJ Construction is the general contractor. Vantage has given the leasing assignment to in-house broker, Walter Menuet, who also oversees marketing for the first phase.

Jaggard says the office/flex buildings will be priced at $12 per sf annually. The distribution/warehouse space will carry a rent ranging from $5.50 per sf to $6 per sf annually.