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Construction Underway on $25M Industrial Park

STAFFORD, TX-Avera and Cobalt Capital Partners are ready to pour slabs for the 349,117-sf Freeport Ninety Business Park, a five-building plan for 22.5 acres.

By Amy Wolff Sorter | Updated on August 20, 2008

STAFFORD, TX-With ground work done, Avera Cos. and Cobalt Capital Partners LP have jumped into slab work on the 349,117-sf Freeport Ninety Business Park. The five-building spec industrial complex will come on line in early 2009 at a cost of nearly $25 million.

A spokeswoman with Houston-based Avera tells GlobeSt.com that the 22.5-acre project at US Hwy. 90A and Promenade Boulevard isn’t geared for a long-term hold. She adds, however, that the future of the park will be determined closer to completion. “At this point, though, we’re planning to sell on completion,” she says.

Architects Plus of Houston is the designer while San Marcos, TX-based K-W Construction Inc. is the general contractor. Faron Wiley and Carlton Anderson with CB Richard Ellis in Houston are leasing the project. The quoted rates range from 45 cents per sf to 75 cents per sf, triple net.

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