Robert Clay of Houston-based Clay Development & Construction, the park's developer, handled its side of the talks while John Ferruzzo of NAI Partners Commercial in Houston bargained for the buyer.
Ferruzzo tells GlobeSt.com that the project is rising on about two acres along Brittmoore Road in West Houston. He won't disclose the selling price, but did say comparable buildings run between $45 per sf to $50 per sf.
Brite Lite will be vacating a leased site near Hempstead Highway in northwest Houston. According to Ferruzzo, the firm will be tripling its space with the move.
In May 2001, Clay Development Construction bought 10 acres to develop the Freeport Tanner Business Park. At that time, Clay said the acreage was one of the last remaining tracts in the area for industrial development.
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