Why Development Is A Whole New Ballgame
It’s not just the volume of construction that’s changed dramatically—there are countless ways that putting a building in the ground is a whole different ballgame from past years. That’s why we’re hosting a new construction and development panel on July 8 (register here).
Trammell Crow senior managing director Jim Casey (with colleague Jeremy Garner) says office development is more tuned into amenities and environment, both internal—like fitness centers and cafes—and external—a vibrant location. His team is building the FMC Technologies campus, which is a perfect example. Ten years ago, the company was opening small satellite offices with no amenities all over town. Now it’s bringing everyone together in a mega campus that has a whole building dedicated entirely to amenities. (It’ll include exercise facilities, a medical clinic, services like dry cleaning, etc.) And of course it’s in Generation Park, which’ll provide the rich environment to satisfy clients. (Your office has become a resort destination.)
On the other hand, industrial users want a whole lotta nothin’ around them. (Forklifts prefer silence so they can move palettes and write introspective poetry.) Jim tells us the amount of outside space for truck aprons, outdoor storage, and employee parking has been growing rapidly for the last 30 years. He estimates that a warehouse today has about 10% to 15% more outdoor area than what he was developing a decade ago. Trammell Crow is developing Fallbrook Pines in Northwest Houston, and is advertising secured truck courts for every building. Jim says not every facility will have large outside components, but his team allocated a pretty sizable amount of excess land to serve industrial users’ needs.