Vantage Cos. is the lead investor and partner and Clay Development & Construction is handling design and construction. Both Houston-based firms will work to lease the structure, quoting rates from 32 cents per sf to 34 cents per sf. "We have followed Clay's activity on building smaller buildings and feel Clay is the ideal partner for this type of venture," Stephen H. Jaggard, Vantage president, said in a press release.

Jaggard tells GlobeSt.com that the undertaking is one of the first speculative buildings to be constructed in years in the area. He says Vantage has been eyeing land in and around the Houston Ship Channel for a long time. With the area now "matured," Jaggard says it's time to build.

The building will be positioned on five acres in the 34-acre Battleground Industrial Park, bought last year by Clay Development. It is designed with 24-foot clear heights, an ESFR sprinkler system, custom-finished offices and ample parking. The distribution center will deliver in late October. Frost Bank provided construction financing for the project.

With 34 acres to build out, Clay Development is working on a 30,000-sf build-to-suit and 24,500-sf, single-tenant speculative building. The firm also secured a lease with Dresser Inc. for a 73,000-sf build-to-suit manufacturing facility.