THE WOODLANDS, TX-Everson Development LLC of Houston is preparing to launch construction in the spring on the 25,209-sf Research at Pinecroft shopping center.
The development, set to rise at the intersection of Research Forest and Pinecroft drives, will deliver in October. "We've done some pre-marketing and preleasing on the site. And, interest has been phenomenal," says Jeff Beard of J. Beard Real Estate Co. LP in the Woodlands. He and colleague Tim Maczko are preleasing the project. "We've already got commitments on a substantial portion of the space," Beard says, adding "for as early in the process as we are."
Local experts say space in the Woodlands is getting $1.13 per sf. For a center comparably sized and designed, the all-in construction costs most likely would be $5 million to $7 million.
Beard tells GlobeSt.com that tenant mix at Pinecroft won't be much different from that in adjacent properties. "You have freestanding banks and restaurants, a mix of retail and professional tenants," he adds. "I'd envision the mix in this project to be the same."Houston-based SLI Group Inc. designed Research at Pinecroft. "This will be a nice, high-end, attractive center," Beard adds.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.