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Developer Ropes Off Two Acres for Spec Project

HOUSTON-Developer Nickson Leeland Industrial has purchased one of the few remaining small tracts in northwest Houston, paying close to the $2.75 per sf ask. Before the year ends, ground will break on a 25,000-sf spec industrial project.

By Amy Wolff Sorter | Updated on September 07, 2005

HOUSTON-Local developer Nickson Leeland Industrial LLC has obtained one of the few remaining small land parcels in the northwest submarket. The plan is to break ground in the fourth quarter on a spec industrial project on the two-acre tract in the Petro Park Business Center.

The property was listed at $2.75 per sf. “We were very close to the ask on the final sale,” says John Ferruzzo, principal with NAI Houston, which represented the buyer on the transaction. Eric Hughes of the National Realty Group represented the seller, Petro Park Properties Inc., both of which are Houston firms.

The property, located at Petro Park Drive and West Little York Road, will be the future site for an estimated 25,000-sf building, featuring tilt-wall construction, 10% office finish, dock and outside storage. “We’ll also jazz the front up a little so it’ll be a nicer type of look,” Ferruzzo tells GlobeSt.com. He says the project is scheduled for completion in first quarter 2006.

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