Homebuilder Signs for Nearly 60,000 SF

HOUSTON-Wisenbaker Builder Services Ltd. has signed a 15-year deal for 58,257 sf as a lead tenant in an as yet uncompleted tilt-wall, multi-tenant service center property. Once complete, the $10 million-$12 million project, located at 10110 W. Sam Houston Pkwy. North, will consist of three buildings totaling 129,670 sf. The property is scheduled for completion at the end of Q1, 2006."This is a quasi-spec, build-to-suit," says John Ferruzzo, vice president of NAI Houston, who with Barrett Gibson, represented the tenant in the deal. National Realty Group in Houston represented DC Houston LP, the landlord, in the transaction, and is also the project's developer."The tenant had a lot of say in how the building would look and how it was designed because they're taking up half the square footage," Ferruzzo tells GlobeSt.com. He adds that the quoted lease rate is $12 per sf, minimum, along with a large TI allowance, due to heavy build-out on the space, which will include a showroom for different homebuilders."They're in a smaller design center right now, so they'll expand and consolidate with one large main design center," Ferruzzo adds.Jon Spears, vice president with National Realty Group, notes that the reason for the spec nature of the property is because of demand for high-quality service center space. "When this is completed, it'll be high-end, quasi-flex space," Spears tells GlobeSt.com.Spears, who is handling leasing activity on the property, indicates that the tenant focus is on businesses in the home-building industry, but not exclusively so. "We have quite a few good prospects for the remainder of the space, but no one buttoned up as yet," he adds.