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GlobeSt.com EXCLUSIVE: 118,000-SF Office Building Eyed

HOUSTON-Panattoni will add a third building to the Beltway 8 Corporate Centre, where a set of twins has one fully leased and the other at 75% occupancy. The developer has carved out a 10-acre site from the 120-acre park for the class A addition.

By Jennifer Brenner Andrade | Updated on March 17, 2004

HOUSTON-Buoyed by steady leasing at two office buildings, Panattoni Development Co. is planning a third structure for the 120-acre Beltway 8 Corporate Centre in West Houston.

Bob Wheless, Panattoni’s managing partner in Houston, tells GlobeSt.com that ground could break in the fall, with delivery coming seven months later. The team already is courting lead tenant prospects.

Wheless says the under-design, two-story building with an open-floor concept will be much like the existing set of 102,500-sf twins. He says the development cost is “less than projects of comparable quality in that market,” where the average to build class A space runs from $125 per sf to $130 per sf.

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