Ground officially breaks in 30 days on the 520,000-sf 1-45 Tradeport 1. Completed is planned for fourth quarter 2007. "In that market, I feel confident we'll be leased before we're built," Craig Hughes with Cushman & Wakefield of Texas Inc. tells GlobeSt.com.
The development group, Pleasant Run Partners LLC, is under contract to buy 29.4 acres in the 433-acre Sunridge Business Park, an undertaking of Prime Rail Interest. Pleasant Run Partners is led by Stephen Sanders of Industrial Works Investments.
Hughes says the development talk took a "serious" turn about four months ago. The C&W team of Dan Cook, Gary Collett and Hughes were up against two other brokerage houses vying for the marketing assignment. Additional details about the project will follow, but the spec space is being quoted at $3.25 per sf.
I-45 Tradeport 1 was designed by Gromatzky Dupree & Associates of Dallas. Cadence McShane Corp., also Dallas, is the general contractor and local firm, Pacheco Koch Consulting Engineers Inc. is the civil engineer.
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