(For more retail coverage, click GlobeSt.com/RETAIL.)
KATY, TX-Preleasing has begun on the 260,000-sf first phase of La Centerra at Cinco Ranch, a mixed-use, lifestyle center scheduled to break ground in the fall.
The 33-acre development at the intersection of Grand Parkway and Cinco Ranch Boulevard will consist of 80,000 sf of office space and 180,000 sf of retail space. According to Garrett Ashmore, an associate with Trammell Crow Co.'s Houston office, which is responsible for the office leasing, the first floor of the structure will be dedicated to retail, with the second floor set aside for offices.
Quoted rates for office space will go from about $25 per sf for shorter-term deals to approximately $22 per sf for long-term transactions. "We're offering a number of tenant improvements that are fairly liberal as well," Ashmore adds.
Though marketing has just begun on phase one, Ashmore tells GlobeSt.com that there's been a great deal of interest on the office side. "We received an e-mail from one of the largest energy companies in the world wanting to take up space there," he says. "The company apparently has a lot of employees in Katy so they wanted space there."
The ideal tenant mix for the project would range from "high-end, sophisticated mom-and-pop offices all the way to energy firms," Ashmore says. "We've had interest from some of the higher-end custom home builders, to interior design firms, too--as the home market is exploding in the area there." He notes Trammell Crow hopes to have the first preleases in hand within the next few months.
Details about the retail preleasing campaign were unavailable by publication time. W. Loch Cook and Nick A. Hernandez with Page Realty Partners Ltd. in Houston were awarded the contract by La Centerra's local developer, Vista Equities Group Inc. The mixed-use project, designed by Hermes Architects of Houston, will be built Hoar Construction Co., also a local firm.
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