From 100k to 1M SF in Two Years
Last year (the first year of Adkisson Development & Brokerage), Steve Adkisson developed 112k SF of industrial. Now he’s got six projects under construction or breaking ground soon, three more following by the end of the year, and Steve estimates he’ll deliver 1M SF in 2015. (It's a good thing babies don't grow that fast in their first two years.)
The rapid expansion comes with a new name—Steve has rebranded to form Adkisson Group. Last year, he developed Element Materials Technology’s 53k SF facility—pictured here behind him—in America Plaza. (He says that was one of the last few remaining land opportunities in a Class-A park in hugely popular Northwest Houston.) It was a unique project; Steve tells us one building was mostly office and lab space, and the other was used for gamma ray testing. The latter required a maze of concrete walls that were two feet thick and eight feet high with two overhead cranes.
Steve tells us many of his current spec developments (available for lease or sale) include a focus on smaller users. Logistics Park at World Houston sits on an eight-acre site off Lee Road that could’ve accommodated a large building, but Steve chose to develop eight buildings ranging from 6,000 to 18k SF. (The smallest have room to expand to 7,500 SF.) That project has no preleasing, and Steve hopes to be in the ground in the next 90 days. (Pictured, they're prepping the site.) To appeal to logistics users, it has dock-high, crane-ready, rear-load space with drive-through capabilities.
His Rankin Road Business Center, starting development this month, also has eight buildings targeting smaller users—especially service-oriented companies—on the North side of town. Although nothing’s inked, Steve has already been getting some calls. Adkisson Group is only a year old (Steve left TNRG last June), but it’s got some history—when forming his company, he repurposed the logo his grandfather—pictured—used in the ‘40s (for Adkisson Refrigeration) and his dad used in the ‘70s (for Adkisson Auction and Realty).