Boulder Management's buy will ultimately house a 35,000-sf to50,000-sf office building. Company principals say the plan is tobreak ground next year. The acquisition, say officials, is aforward-looking, cost-effective decision. The play puts the companyon the offense "in reserving land we know someone else will buy ifwe don't purchase it first," officials contend. Boulder's parentcompany, Seismic Exchange already has a 51,000-sf building in thepark. Wolff's in-house representative David L. Lane has negotiatedthe land sale.

David Hightower, senior vice president for developer Wolff Cos.,says the park has just 35 1/2 acres remaining. He says interest hasbeen strong since development began in 1998.

The Sam Houston Tollway will be to the first quarter of thiscentury what the West Loop had been to the last quarter of the lastcentury, he says. The city's northwest, west and southwestquadrants are prime areas for new single-family and multifamilyhousing, accounting for 80% of the new residential construction.Westway Park is just a 20-minute drive to most of themaster-planned communities. Hightower says the location of the parkand subsequent quality of life that goes with its proximity to thesuburbs gives companies an edge in recruiting talent.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.