Bisnow Exclusive: Exxon Area Gets Industrial Park
Noticing a lack of smaller-user industrial product near Exxons new campus, Finial Group announced plans for a nine-buildingdevelopment in Spring. The first building in Louetta Business Park will go spec and break ground shortly.
Finial Group'sMike Sperandio,Keith Bilski,and Neil Martin tell usthey'vebeen eyeing the 13-acre site for a while. (We're also shy, but all properties want is for you to go up and talk to it.) The tilt-wall buildings will be institutional quality and crane capable. Importantly, all can accommodate a heavy office finishKeith says this area's tight in affordable office/warehouse space, and there's not enough product for smaller users in the 10k to 15k SF range, many of which want to own their own buildings.
The planby Three Square Design--calls for nine smaller buildings totaling 135k SF, but Mike says itll start development in the northern part of the park, leaving flexibility for a larger building on the south side if demand is there. Neil tells us Finial will probably build most of the buildings spec, launching each new property as the previous one leases or sells. But he predicts theyll do a few BTS deals, too. The trio tells us the sites access to I-45 from Whitewood Drive is tremendous. Its behind a regional retail center, andthey'vehad interest from multifamily and retail groups (but will stick with warehouse/office uses).