New Spec Project Secures Two Tenants

Developer David R. David of Houston's Warehouse Associates tells GlobeSt.com that he is in the midst of talks with four other prospects, three of which have reached the advanced stages of negotiations. The pipeline would take the structure's occupancy up to 60%. He's not revealing who he's talking to, but did say that two prospects are medical-related companies.

Of the done deals, DaVita Inc., a dialysis clinic, is taking 19,308 sf of a 46,596-sf structure at 9350 Kirby Rd. Moore Unique, a laser surgery and skin care products distributor, has picked a 10,998-sf spot in the development's 61,242-sf building.

David says DaVita is 90 days away from move in as crews push ahead on tenant finish-out. Moore Unique is now in the permitting process. David says that move-in is about 120 days out.

Bill Gold of the Houston office of CB Richard Ellis Inc. represented Warehouse Associates at the bargaining table. Robert S. Parsley and Bill Byrd, both of the Houston office of Colliers International, did the talking for DaVita.

David says he is open to building other speculative buildings in the 60-acre park, but is also actively looking for build-to-suit or build-to-sell users for the remaining 53 acres of undeveloped land. Corporate Center Kirby's proximity to the medical center and Astrodome make it the only new product of its kind to hit the market in years. David says the land has appreciated considerably since he purchased it. And since land is limited in the area, he theoretically has put up a roadblock for any competition.

Gold says 10 million sf will be added to Houston's medical center in the coming decade. He doesn't foresee those plans pushing the profile of Corporate Center Kirby into a landing spot strictly for medical users, but he acknowledges a significant portion of the tenant base will be medical-related. He believes Reliant Center's exhibition center roll out of 1.4 million sf to 2.4 million sf will make his development a good location for exhibition and service providers to the complex. Simply put, all translates into prosperity for the area which, he says, is destined to become a "vibrant business center over the next decade.