Pelican Point's first building, going up at 8184 Hwy. 44, isscheduled for completion by the end of the year. MIE vice presidentof operations Todd Pevey says the company builds all projects on aspeculative basis. "I find that when the building walls start to goup that's when the calls start coming in," he tells GlobeSt.com."We don't have any immediate prospects, but we aren't worried."

Located near Highway 44's intersection with Interstate 10,Pelican Point Commerce Center is the company's second majorindustrial development in Gonzales, a small city midway betweenBaton Rouge and New Orleans. The start of construction coincidesroughly with the wrap-up of the last phase of the 310,000-sf MainStreet Pelican Point. The first three phases are fully leased. Bothprojects adjoin the 36-hole Pelican Point Golf & Country Club,which MIE also owns.

Pevey quotes rates for both industrial projects at $8 per sf to$14 per sf, depending on build-out. He says the properties attracta range of small industrial, office and research and developmentusers.