HOUSTON-Taking advantage of the booming northwest submarket market, local development and investment company Davis Commercial Development LLC has joined forces with Amstar Group in Denver to develop the 33.6-acre Beltway at Bammel.
Work will begin on two spec flex and distribution buildings, totaling 326,400 sf, within 30 days on a 19-acre tract at the corner of Bammel North Houston Road and the Sam Houston Tollway. The first phase's all-in cost is estimated at slightly more than $20 million.
"The shell buildings will be completed by the end of November with the entire build-out estimated at about 36 months," says Jeff Davis, president of Davis Commercial Development. Candace McShane of Dallas is the general contractor; locally based Munson-Kennedy Partnership is handling the designs for the pair, which will go up at 4600 and 4650 N. Sam Houston Tollway.
Future construction will depend on the market. "The market is very good right now," Davis tells GlobeSt.com. "We've had some interest and are pursuing some of those tenants on a selective basis." He says Davis Commercial is preleasing the space, for now. The price per sf rate has not been determined, but the minimum space requirement is 5,600 sf.
The Beltway at Bammel development is Davis' first joint venture with Amstar. The local executive, though, says there are more future projects for the partners although he's not tipping his hand about any particular submarkets of interest. "The northwest area has been our most stable industrial market to date," he says. "About 60% of our bulk distribution space is in that market."
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