HOUSTON—With an eye toward office demand, the 150,000-square-foot Offices @ North Post Oak development will soon be underway on a 7.5-acre site. The first two buildings, two-story 16,100-square-foot office towers, will break ground in the third quarter of 2018 with completion scheduled for the first quarter, 2019, according to Clay Development and Construction Inc.
Robert Clay, president of Clay Development and Construction, is handling sales and leasing for Offices @ North Post Oak. Construction financing is by Frost Bank. Tim Cisneros of Cisneros Design Studio is the architect.
“The first of the two buildings to be built beginning in the third quarter 2018 will be mixed use, with both retail and office on the first floor and office on the second floor,” Clay tells GlobeSt.com. “After that, Clay will respond to the market. All of the development is planned to be commercial, primarily office, targeting business owners in nearby neighborhoods such as River Oaks, Memorial and Tanglewood who want to own their own buildings. The cost point difference in comparable locations is $500 per square foot versus Clay's $300 per square foot for a build-to-suit office building.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
