The Last of Its Kind
Davis Commercial Development has accomplished the impossible—it found a site in North Houston on Beltway 8 to develop an industrial property. In fact, prez Jeff Davis (whom we snapped with colleague Jackie Lambert yesterday) says its Beltway North Commerce Center just may be the last industrial building built in the submarket with Beltway frontage. The team was able to take over a site that was going to be developed in ’07 but fell through in the downturn. Jeff’s been working the deal since August, and GC Rosenberger is ready to break ground in the third week of April. (Who wants to start a project like that before the end of the NCAA tournament?)
Munson Kennedy designed the 325k SF cross-dock facility, which joins 2.5M SF of spec development in the north submarket. It has all the latest amenities, including lots of truck doors and a two-story glass entry. Jeff tells us it can accommodate anywhere from one to eight tenants; he hasn’t selected a leasing team yet but is already seeing strong interest from users in the 80k to 100k SF range. (It’s about a 50/50 split between manufacturers and existing Houston warehousers who need to expand.) Amstar Group provided financing for the project, which is immediately south of IAH.
