The park will be launched with a 160,000-sf, spec officebuilding on 8.8 acres of the land, which is bounded by US Highway290, Beltway 8 and Texas 249. The spec project, scheduled to breakground in the third quarter, will deliver in Q1 2007. Jeff Brownand John Cadenhead with Powers Brown Architecture of Houstondesigned the development. General contractors are still beinginterviewed.

David Hudson, vice president of leasing and development for theIndianapolis-based Duke Realty, says staking a claim in thenorthwest submarket is a good investment move, given the demand forquality office space. "Everyone developing in that area has beenwildly successful in filling leased space and build-to-suits," hesays.

Hudson tells GlobeSt.com that Duke ran the numbers anddetermined 95% of the buildings constructed the submarket in thepast seven years are now leased. "That sort of solidified theBeltway area in terms of office for me," he says, adding he'salready fielded several inquiries from tenant and build-to-suitprospects.

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.