The Fort Bend County project, situated on 17 acres near Beltway 8 and US Highway 59, consists of three buildings, totaling 278,224 sf of speculative, class A industrial space. It will cost between $11 million and $14 million to develop the park.
"We bought the land about a year ago and were waiting for the market to come around while we did the design and permitting," Jim Casey, TCC's development manager, tells GlobeSt.com. "We think the project will attract a variety of light industrial tenants such as service, distribution and manufacturing companies. There's a fair amount of growth in the area."
TCC's team of David Hudson and Faron Wiley will lease the buildings, scheduled for completion in August. Rental rates will range from $4.20 per sf to $7.80 per sf per year, triple net.
Stafford Park Business Center carries a Freeport exemption and the lowest tax rate in the region, Casey says. The 20-foot to 24-foot clear-height buildings have ESFR sprinkler systems, 52-foot column spacing, wide truck aprons and ample parking. The project calls for a 66,200-sf building at 10650 W Airport Blvd.; 133,566-sf structure at 12315 Parc Crest Dr.; and 78,458-sf design at 12211 Parc Crest Dr. Houston-based Powers Brown Architects designed the project; Rosenberger Construction, also Houston, is the general contractor.
In the Houston region, TCC and ING previously developed Southwest Techniplex, a five-building project. The partnership also is developing California Palms, a 2.2-million-sf industrial project in San Bernardino that costs $82.5 million. And in Tampa, FL, the partnership has broken ground on Port Ybor, a $40-million, 620,000-sf, mixed-use industrial park. Lion Industrial Trust is a $1.8-billion commingled fund that owns 38 million sf of industrial and distribution properties across the nation.
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