"The building should be 100% leased within 30 days," Mark Wimberly with Betz Commercial Brokerage Co. in Houston tells GlobeSt.com. The three new deals came from Stewart Title Co., an orthodontist and a dentist.
Work will begin in 60 to 75 days on a twin structure for the 3.6-acre park, Wimberly says, adding that 25% already is pre-committed to a Fortune 500 company. The construction schedule calls for a delivery by year's end.
Stewart Title took 2,928 sf at 18700 W. Lake Houston Parkway, signing a medium-term lease. Wimberly represented the building owner, 18700 WLHP LP, while the Houston office of Dallas-based Weitzman Group brokered terms for the title company.
Orthodontist Billy Powell took 3,200 sf and dentist Shelli Peters signed for 1,620 sf. Neither tenant used brokers to negotiate their deals.
Wimberly says the park is designed for three professional buildings, with up to 30,000 sf. The park sits in a booming area that is bringing 1,000 new single-family homes per year, he points out. The high-income, fast-growing residential area is what spawned the development of Lake Houston Professional Plaza, he adds.
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