Search
 

35,000-SF Office Plan Brewing

HOUSTON-Betz Commercial Brokerage will build a third structure on a 10.5-acre tract after slow, but steady leasing lifts occupancy to 90% for a pair of office/warehouses. Unlike the twins, the next project will be all office.

By Jennifer Brenner Andrade | Updated on June 20, 2004

HOUSTON-The developer of Legacy Business Center is ready to move ahead on a third building for a 10.5-acre tract after three years of slow, but steady leasing for twin office/warehouses in northwest Houston. Unlike its predecessors, the next to rise will be a 35,000-sf office building.

Leigh Anne Ahr with Betz Commercial Brokerage Inc. in Houston tells GlobeSt.com that the project will cost $2 million to $3 million to build. The office building is in the design phase, awaiting permitting and final approvals from the city. In the interim, proposals have been floated to prospective tenants, she confides.

Ahr says the office building plan took root two months ago when Legacy Business Center’s 91,450 sf of office/warehouse space hit 75% occupancy. Now, the twin buildings are 90% filled. The structures, with a quoted rent of 75 cents per sf, were built in 2001 on a 10.5-acre tract in the 63-acre, master-planned Legacy Business Park.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.