The just-completed speculative manufacturing facility at 8721-AClay Rd. was listed at $1.5 million and sold to Apoena Corp., whichwill move in shortly. The deal was negotiated by Chris Kugle,Travis Land and John Ferruzzo of NAI Houston.

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Meanwhile, European Tile and Marble Design Inc., headquarteredin Anaheim, CA, will begin operations in its design-build facilitywithin the next 40 days. Jeffory Stringer, managing director withStoneBridge Real Estate Development and Investments, says another20,000-sf building is available for lease or sale. Meanwhile, hehas three permits in hand to break ground on more.

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"We'll break ground very soon on an additional 25,000 sf and twomore 20,000-sf buildings," Stringer tells GlobeSt.com. "That willleave me with two acres for a build-to-suit." He adds that one ofthe 20,000-sf buildings on the drawing board could go as abuild-to-suit, but will go vertical as spec, if necessary.

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Stringer, who bought the land for the park in late 2006, saysthe time line for the Clay Road Industrial Park development was 36to 48 months. StoneBridge is on track to meet that goal, andStinger anticipates the entire construction process should becomplete by late 2008 or early 2009.

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The Houston developer has statistics on its side when it comesto demand for industrial space. According to Grubb & EllisCo.'s Q4 2007 industrial report for Houston, the northwest farsubmarket had a 7.6% vacancy; meaning out of a 78.1-million-sfinventory, 5.8 million sf is vacant. The northwest near total showsa lower vacancy rate of 4.8% with 1.7 million sf vacant out of a36.5-million-inventory.

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"We're at the heart of the industrial sector, at Clay Road andHempstead, which is very active," Stringer notes. "The demand isdefinitely there."

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StoneBridge has developments on the north, far east andsouthwest submarkets in addition to Clay Road Industrial Park. Thecompany will soon break ground on its newest project on 10.5 acresin Missouri City, TX.

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