In Rare Move, Office Being Torn Down for Industrial Space
The Houston Business Journal is calling it a first. Brennan Investment Group has purchased a vacant office building in Greenspoint with plans to build a warehouse in its place. A two-story, 135,000-square-foot building known as North Belt Office Center V, was an office for a long-departed public company.
Brennan now plans to tear down the 16-year-old building and break ground in about three months on a 157,300-square-foot speculative distribution center for between one and four tenants. The warehouse will have 32-foot clear height, 225 feet building depth, an ESFR sprinkler system and a 185-foot truck court. Estimated completion is third quarter of next year.
The Journal added, the conversion to industrial makes sense in a market that has been experiencing extremely high office vacancy and low rents. Industrial real estate, on the other hand, is booming all across Houston.