The spec project will have a 10-month construction schedule.Although there has been no pre-leasing, Emerson director JoePasqualetti points to the immediate success of the two existingoffice assets that were also built on spec.
Lucent Technologies occupies the entire CenterPointe One, a110,000 sf, four-story building completed in April 1998.CenterPointe Two, a 115,000 sf, four-story structure completed in1999, is 73% leased. The project's full-service rent at the newbuilding is $22 psf to $25 psf.
On a related project, Emerson is proceeding with plans to builda 350-room, $45 million hotel and health club complex atCenterPointe, even as it searches for a joint venture developmentpartner and a hotel operator.
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