The park is located at the southeast corner of Beltway 8-Sam Houston Tollway and West Little York. Vantage Cos.' Houston Division is the developer.
Through the Kran Co., Bondeson had pioneered the manufacturing of overhead traveling cranes in Houston. He began accumulating land in 1967 after Beltway 8's plan had been unveiled. It would be another 30 years for the land to reach its full value. He had managed to acquire about 117 acres, selling off tracts through the years. The last 36 acres had been equally divided between FedEx and Vantage. Broker Peter Tsou of Peter Tsou & Associates had orchestrated another 10.4-acre sale of Beltway frontage to give Vantage its 28-acre holding for the business park.
Vantage president and CEO Stephen H. Jaggard tells GlobeSt.com that he relied heavily on the brokerage community to decide where to build another industrial park. "It is a risky business by nature," he says, but all of the indicators had pointed to the Beltway. Jaggard and Bondeson had met as a result of the acquisition. Jaggard says he wanted to find a way to memorialize Bondeson's accomplishments. "I knew I had to find a way to permanently preserve the legacy of his work out here," he says.
The park features Vantage's signature product of office-tech, office-warehouse and warehouse-distribution space. "The fact that the product is flexible should appeal to many types of users. I believe this will lead to strong leasing activities," Mike Boyd of Boyd, Page & Associates tells GlobeSt.com.
Todd Mason, senior director of Cushman & Wakefield of Texas Inc. and president of the Houston Association of Realtors, also is bullish on the park. "West Little York has long been recognized as one of the major streets for industrial business center parks and Beltway 8 is finally coming into its own," he says. The undertaking is the next logical step in the evolution of the industrial market, explains Mason. Construction in the past four or five years has mostly occurred in existing parks.
The seven-building project will consist of four office-tech buildings, totaling 91,000 sf each. All will have beltway frontage, proximity to major fiber optic providers, 18-foot clear heights and dock-high and grade-level trucking. Vantage also plans to build 52,775-sf and 80,000-sf office-warehouses in the park. They will be designed with front-park, rear-load and 24-foot clear heights. Also on the drawing boards is a 140,000-sf warehouse-distribution building, featuring abundant truck doors, 24-foot clear height and outside storage.
Guaranty Bank is the construction financier. Vantage Construction Management is the construction manager. E.E. Reed is serving as general contractor for the project that's been designed by Jacobs & Associates.
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