Infomart will partner with Sarofim Realty Advisors, a Dallas-based investment fund manager. The acreage, which has been bought from Dallas developer Ray Nasher, is located at the intersection of Interstate 45 and Beltway 8. Up to seven buildings are planned for the site, with the first one of 108,000 sf getting under way in 60 days, GlobeSt.com has been told.
"Houston has for some time been a key location on Infomart's list of target cities," says Tom Jones, Infomart president. The property's proximity to fiber-optic cables and existing telecommunications facilities make it a prime acquisition in the corridor. The Greenspoint Technology Center has just been sold to Yale USA Investment Corp. for more than $30 million. It is home to Level 3, Splitrock Services and Enron Communications Group.
Infomart is not considering the building as a speculative project since there is a high confidence that it will fill up quickly, Phil Wise, Infomart co-chairman, tells GlobeSt.com. The high-tech clients will hail from Infomart's existing customer base in other cities as well as new ones that will be lured to the market. Infomart buildings are tailored toward telecommunications providers and the IT marketplace.
San Francisco-based Gensler, with offices in Dallas and Houston, has designed the state-of-the-art, low-rise building, which will serve as a prototype for the remainder of the project. August is the target date for delivery. Myers & Crow have snagged the leasing contract.
Infomart and a major fiber carrier will encase the campus with a fiber loop. "This new development will contain all of the features telecom providers desire," says Greg Mondshine, Myers & Crow's managing director. Key features include heavy floor loading capacities, high ceilings and state-of-the-art, high-capacity mechanical systems.
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