Robert H. Clay, Clay Development's president, tells GlobeSt.com that he purchased the property for Tanner Business Park about one month ago. "It is one of the last remaining pieces of land in the area," he says.
Clay says construction began last week on the first two build-to-suits for Dover Equipment and CMI Moulding. Dover Equipment will be leasing a 20,000-sf, tilt-wall, clear-span industrial office-warehouse. The building is designed with 5,000 sf of office space and 15,000 sf of warehouse space. Nancy Rust of Rust Realty has represented Dover, a Houston-based manufacturer of material handling systems. Clay has negotiated the deal for his firm. Dover will be relocating 14213 Aston, its former corporate headquarters.
CMI Moulding Inc., has purchased its 30,000-sf office-warehouse build-to-suit. The Burtonsville, MD-based national distributor of framing products will be relocating from leased space at 4515 S. Pinemont. Marc Drumwright and Chris Hotze of Southwest Realty Advisors in Houston have represented CMI in the sale, with Clay acting for his firm.
Clay anticipates the park will be built out within 14 to 18 months, delivering about six buildings to the 10-acre site. The park most likely will contain at least one spec project, ranging between 20,000 sf and 30,000 sf.
In the fall, Clay Development & Construction will kick off work on a 60,000-sf, multi-tenant structure along Milwee at the intersection with Texas 290. Clay says the project will be completed in about four months. Bill Rudolph at CB Richard Ellis will handle the project leasing.
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