Bammel
II Industrial Park (Bammel II) is situated on an 4.72 acre site located
in Northwest Houston on the southwest corner of Prairie Oak Drive and
Old Bammel North Houston Road. The subject property is approximately
half a mile south of Beltway 8 and ¼ mile North of Old Hempstead
Highway. CCD purchased the site in June 2001.
The
construction will include property infrastructure, and three crane ready
buildings for light industrial and manufacturing use. The buildings
will total approximately 79,750 SF with the first building encompassing
20,000 SF, a second building of 20,000 SF, and a third building of 49,750
SF. The 20,000 SF buildings will be available at $0.46 gross industrial
rate.
Our
experience and research indicates that a light-industrial park in Northwest
Houston catering to smaller users will be highly profitable. Based
upon this experience, we have developed the following construction budget
for the Bammel II project. We expect a total cost of $35 PSF including
hard and soft costs. Some tenants may require additional amenities
which will increase their lease rate and our final cost.
Location:
The property has excellent visibility from both the Beltway 8 and the
service road of U.S. 249. The parcel can be accessed by either
Vinecrest Drive or Old Bammel North Houston Road. The parcel has
89 feet of frontage along the Prairie Oak Drive and 500 feet of frontage
along Old Bammel North Houston Road. As of fourth Quarter 2001,
the Beltway 8 service road has traffic counts of 143,000 cars per day.
This compares to the Beltway 8 Parkway which has traffic counts of 162,984
cars per day.
Site
/ Infrastructure: Utilities to the property will be provided by
Harris County. The property is located outside the city limits
of Houston. The expected cost of water and wastewater utilities
provided by the City of Houston is described below in the development
summary. Adequate drainage for the lot is available through surface
run-off. |
