Stephen H. Jaggard, Vantage president and CEO, tells GlobeSt.com the development is a new product for his company. Vantage has historically focused on gargantuan industrial parks servicing large tenants.
Jaggard says the new park will host buildings from 18,216 sf to 30,728 sf. "Extensive research in talking to both tenants and brokers in the markets indicates there is a need for this type of smaller product for sale or lease...and have an end cap without being buried in a larger, multi-tenant warehouse," he says.
Each building will be freestanding with up to 25% office finish and cross-dock facilities with dock-high and drive-in capabilities. Jaggard emphasizes that the park will offer smaller users extra parking spaces, an amenity these types of tenants often find strained in the larger multi-tenant parks.
Vantage is financing the construction for the project through South Trust Bank. Jacobs & Associates is the project architect. Vantage Construction Management will oversee construction, with E.E. Reed serving as general contractor. The park is being built at Blalock Road near Beltway 8 and US Highway 290.
Brad Berry of Vantage will handle the leasing for the project, which is Vantage's third industrial development this year. Beltway 8 Business Park, a 260,000-sf industrial park, has been completed and the 365,000-sf Bondeson Business Park, which recently has broken ground, is scheduled for shell completion by year's end.
Depending on leasing activity, Jaggard says the next development steps for the company will include phase II developments of Beltway 8 Business Park and Bondeson Business Park. Jaggard says the second phases could begin this year, but most likely won't get under way until next year.
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