HOUSTON-Work begins Monday on a 4,305-sf retail building for Verizon Wireless in the Willowbrook area of northwest Houston.
Verizon penned a long-term lease for the build-to-suit at the southwest corner of Texas 249 and FM 1960. Wallace/Halpin LLC of Houston is the developer.
Jim Wallace, partner in the Houston firm, tells GlobeSt.com that the 23,266-sf tract was bought in an all-cash transaction with Motiva Enterprises LLC in late October. The site once housed a Texaco station, which was razed about a year ago. Harris County Appraisal District assesses the land at $363,310.
“The acquisition of this high-traffic site fits our criteria of acquiring and adding value in key retail markets,” Wallace said in a press release. “The site was one of the only remaining freestanding locations in the market area.” According to Wallace's calculations, the daily traffic count totals about 200,000 vehicles.
The Lane Design Group of Houston is the project architect. The building will deliver at the end of the first quarter.
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