Matt Khourie, president of TCC's southeast operations, says a TCC-led partnership acquired the acreage in 2001. He says the team initially thought about developing a large retail center at the intersection of Interstate 10 and Grand Parkway. "As the market continued to improve and the office market continued to improve, we decided to hold off and wait for a higher and better use for the land," says Khourie, who is working on the project with Craig Cheney, a TCC managing director in Houston.
When KBR approached TCC about developing a corporate campus in the far west submarket, the team started to formulate a mixed-use plan for the remaining land, Khourie tells GlobeSt.com. It's estimated about 50% of the acreage will be dedicated to KBR's campus, which is being designed by Houston-based Kirksey Architecture. The mixed-use development's name and total size has yet to be determined.
"We'll develop KBR and try to secure users and tenants before we actually build the rest of the project," Khourie explains. He adds TCC is keeping its options open, with a marketing strategy for ground leases, pad-site sales and build-to-suit projects.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.