The new business park, located at the corner of Olympic Drive and Heatherwilde Boulevard, will contain four 50,000-sf buildings and one 42,000-sf building. The 50,000-sf Building A, which delivers next month, already has a 30,000-sf lease out to FM Industries, a contract manufacturing supplier for Applied Materials. Cheryl Morse, industrial specialist with NAI/Commercial Industrial Properties Co., has represented FM Industries.
"This is a brand-new tilt wall project with a good clean high-tech image," broker Mark Milstead of NAI/Commercial Industrial Properties Co., tells GlobeSt.com. "This is owned by a local investor and developed by a local developer and built with cash out of hand so this owner can make decisions overnight without going to a board or a committee. That does give it a competitive advantage over other projects in the area." Milstead and Royce Lacey in the industrial division of NAI/Commercial Industrial Properties Co. are marketing the property.
Spertus Investments is the owner of the 20-acre project, which is being developed through a family-owned real estate holding company. Larry Parker of Satori Inc. is the developer and Austin-based White Construction, the general contractor. Susman Tisdale Gayle is the architect.
The light industrial-zoned project includes heavy landscaping and above-average clear heights of 28 feet. Milstead says the design can accommodate as a flex or service center tenants, with some options for warehousing. Rates will be 65 cents per sf triple net, with the opportunity for $10 per sf for improvements. Milstead says the second building can be started with 30 days advance notice and will take five months to complete.
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