John Ferruzzo with the Houston office of NAI Partners Commercial tells GlobeSt.com that dirt will fly in three or four months on a warehouse of 20,000 sf to 30,000 sf. It likely will deliver near the end of the year, according to Ferruzzo.
Ferruzzo would not reveal the selling price of development tract, but the park's asking price ranges from $1.55 per sf to $1.60 per sf. John Duffie with Houston-based Midway Cos. represented the seller, Midway Interbelt Partners LP in the transaction.
The undertaking is one of several for the investment and development group in the Interbelt Business Center near the Hardy Toll Road and Rankin Road in the city's far north submarket. Its other projects include a 20,000-sf building that's been sold; a 17,000-sf speculative industrial building; and a 28,800-sf build-to-suit JSWR is completing for Coastal Foods.
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