Jackie Day is editorial director of
Real Estate Media's Newsletter Division
HOUSTON-Granite Properties Inc. broke ground on a 77,000-sf,first phase to a 300,000-sf office park, pushing out a project onthe last vacant land along Beltway 8 between Interstate 10 and USHighway 290. The first structure in the three-phase build-out willdeliver in February 2005.
The Granite Park Beltway 8 complex will be positioned at theClay Road exit on the freeway's west side. Granite is funding thefull project cost in cash, Steve Carter, Granite's industrialbusiness manager in Houston, tells GlobeSt.com about a first phasewith an all-in development tab of $90 per sf or about $6 million or$7 million. "The whole park will be about $20 million," hesays.
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