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Local Developer Planning $3M Spec Project

HOUSTON-BRG Cornerstone takes on a 9,000-sf office/warehouse just to get its hands on the land. The developer, paying close to $625,000 for the building and 7.2 acres, plans to raise four spec industrial buildings totaling 48,000 sf.

By Jennifer D. Duell | Updated on June 13, 2005

HOUSTON-A local developer, BRG Cornerstone, has paid close to $625,000 for a 9,000-sf office/warehouse and 7.2 acres in northwest Houston. The property was sold by Atlanta-based DS Waters of America LP, which currently occupies the building.

BRG Cornerstone hopes to sell or lease up the 15-year-old building and plans to develop four 12,000-sf speculative buildings on the excess land along Cranswick Drive. The construction has a price tag of about $2.5 million, according to an industry expert familiar with the project.

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