| FEATURE ARTICLE, OCTOBER 2005
INSIDE INDUSTRIAL
The newest industrial developments in Texas offer great design and location.
Lara Fuller
Transportation of goods is always a major concern for companies, as they are constantly looking for ways to move their product more quickly. A location near major ports or interstates is often one of the first things considered when looking at an industrial facility. Size and amenities offered at an industrial park are also taken into account. A highly efficient distribution center allows companies to move goods to stores, and to customers, much more swiftly. Developers understand this and try to build projects that are well-suited to a company's needs. Texas Real Estate Business recently spoke with Texas developers and a brokerage company — Clay Development & Construction, Colliers Oxford Commercial and Vantage Companies — to find out what their projects offer companies looking for industrial space.
Underwood Business Park
At Underwood and Highway 225 near the Port of Houston, Clay Development & Construction is developing a 900,000-square-foot industrial facility, one of the largest industrial projects in the Houston area. “There was a great need for distribution space in the Port of Houston area,” says Robert Clay, vice president of Houston-based Clay Development & Construction. Large numbers of cargo containers continuously pass through the Port of Houston, and the Underwood Business Park is being created to help handle the load. In addition, some of the need for distribution space in the area stems from a 2003 labor conflict on the West Coast that delayed business for several days. Many companies began to look elsewhere for industrial and distribution facilities. Houston, in particular, is one area that stood out to large corporations looking for space. Wal-Mart and The Home Depot each opened distribution facilities in nearby Baytown, Texas.
At the Underwood Business Park, companies will have easy access to interstates, the Port of Houston and a Union Pacific rail line. In addition, the 43-acre project features a 135-foot truck court, tractor-trailer parking for 350, ESFR sprinklers and cross dock design. A Foreign Trade Zone designation is currently under application. Construction on the $30 million project is expected to begin in November, with completion scheduled for late 2006. “The size of this project is what makes it so unique,” says Clay. “It will be successful because of the need for space in the port area.”
Bondesen North Business Park
Bondesen North Business Park is being developed by Dallas-based Vantage Companies as an extension to the seven-building, 365,000-square-foot Bondesen Business Park in northwest Houston, which was completed in 2002. Bondesen North will sit on 17 acres at the corner of Beltway 8 and Little West York. The development will feature 215,250 square feet of space in five buildings. Four different product types will be offered at the park, including office/flex, rear-load office/warehouse, front-load warehouse/distribution and cross dock.
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Vantage Companies is developing Bondesen North Business Park in northwest Houston. The project will feature 215,250 square feet of space in five buildings.
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The buildings include a 30,000-square-foot office/flex building; two front-park, rear-load dock high structures totaling 89,050 square feet; a 36,000-square-foot cross dock designed facility; and a 60,144-square-foot warehouse. “A unique opportunity exists with the 60,144-square-foot, front-load distribution building, in that it is offered for sale or lease and comes with a fenced, outside storage area,” says Walter Menuet, vice president of Vantage Companies.
Other features include high visibility; access to Beltway 8, Highway 290 and Interstate 10; custom-finished office designs; 24-foot clear height; dock-high and grade-level truck doors; and tilt-wall construction.
The first phase of the project is already 100 percent leased. Construction on the second phase is currently underway with completion slated for January 2006. RFM Architects Plus is the project architect and K-W Construction is the project contractor. “This project will be successful because of location, timing, flexibility and Vantage's record of success,” says Stephen Jaggard, president and chief executive officer of Vantage Companies.
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