HOUSTON-A local developer has started construction on the four-building, 383,000-sf Remington Square Office Park, a prototype for office and retail space in the suburbs. The $75-million park’s first phase consists of two four-story buildings totaling 154,000 sf.

Situated on 16.9 acres at 10602 W. Sam Houston Parkway N., Remington Square is a flagship development between Caldwell Cos. and equity partner Sun Life Assurance Co. of Canada. The spec buildings are slated to deliver in late 2008. Additional vertical construction will be based on market demand.

Remington Square consists of class A office space with structured parking, outdoor plaza and about 8,000 sf of retail space, which will include a restaurant and service-oriented businesses like a dry cleaners.

“Most of the suburban office tends to be the value type, one- and two-story tilt-wall construction. It’s a great product, but it can be hard for a company use to class A space in the Galleria or Downtown to go from there into a value product,” explains Ron Roberson, president of Caldwell Co. Commercial Development.

Roberson says another driving force for Caldwell’s concept is the increase in commuter times from the northwest submarket to other parts of the metroplex. “With the current infrastructure we have in place, people are making 45- to 75-minute commutes to their offices,” he says. “They’re actually driving past this site to get to their offices.”

Roberson says the spec buildings are being quoted at $19 per sf to $20 per sf net for floor plates of 16,000 sf to 20,000 sf. He points out that class A buildings typically have larger floor plates so Remington Square’s smaller floors offer more flexibility.

Roberson tells GlobeSt.com that depending on the success of Remington Square, Caldwell could take its suburban office concept to other parts of the city and even to other cities. “We feel like this market is ripe for a really high-end ‘amenitized’ office project,” he adds. “The ‘amenitized’ office gives you everything you could get in a Downtown building, except the 50 stories.”

Caldwell’s in-house team is preleasing the project, designed by CAPS Architects Inc. of Houston. E.E. Reid Construction Co. of Sugar Land is the general contractor.

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