The San Diego-based company plans to expand its existing AllredCotton Center Development by 43 acres upon which 550,000 sf of flexindustrial space will be developed, according to Bob Crum, seniorvice president with CB Richard Ellis Inc. who represented Allred inthe purchase. Crum worked with Mark Krison and David Carder, alsoof CBRE. Brian Lee of Grubb & Ellis/BRE Commercial LLCrepresented JDMD Apollo.

Crum tells GlobeSt.com that Allred will start developing thespeculative inventory in the coming six to 12 months. He estimatesthe total project cost will exceed $60 million. "We always buildspec because there's a lot of demand right in the center of town,"he says.Allred also has the first right of refusal for anadditional 20-acre tract adjacent to its existing land holdings,Crum says. In all, Allred controls the balance of available land inthe Cotton Center business complex.

The Allred Cotton Center now consists of 65 acres with twobuild-out phases totaling about 579,000 sf. The lion's share of theflex space is leased to a roster of high-profile tenants, includingProgressive Insurance and Siemens Building Technologies.