The two-acre dimension of the tract, bought about two months ago from Bentonville, AR's Wal-Mart Stores Inc., and lack of class A office product in a strong retail and residential pocket near the intersection of David Boulevard and Tarrant Parkway sewed up the decision to build a 22,981-sf, two-story office building with "all the technology that today's tenants require," Kurt Cherry with PM Realty Group's Dallas team tells GlobeSt.com.

The Woodlands, TX-based bank will occupy 6,500 sf of the first floor and have five drive-through lanes. The schedule is set with a June ground-breaking and interior finish-outs starting in October or November so offices can be ready to open in late December or early January 2005. Cherry says he's optimistic that the building with 11,000-sf floor plates will be "substantially leased before it turns over for interior finish-out." Space in the 8408 N. Davis Blvd. building will be marketed at $18 per sf triple net.

The SLI Group Inc. of Houston designed Woodforest Plaza. The general contractor and landscape architect have yet to be picked.

Cherry says Woodforest Bank picked the Northeast Tarrant County location for the "first" in its portfolio due to its high growth patterns in the past two years. The bank most often is found inside grocery stores, including Wal-Mart. The bull's eye location has a Wal-Mart Supercenter behind it; Chase Bank building a stand-alone across the street; and Walgreen sitting as an immediate neighbor on the hard corner.