Pagewood To Build 500,000 Sq Ft Speculative Business Park in Waller

Even though the town, about 40 miles northwest of Houston only has 3,000 residents, the company thinks building the industrial park in Waller is good business. Pagewood’s Paul Conrood explains, “We know that there’s a tremendous amount of large, credit-worthy tenants looking for 500,000 square feet or more in northwest Houston. There’s a lot of those out in the market right now, and we’ll start talking to them.” The company uses a machine learning predictive algorithm to aid in its effort. In addition, the northwest Houston vacancy rate on industrial property above 350,000 square feet is less than 2%. Houston-based CBRE will be in charge of leasing.

The Great 290 Distribution Center will be on 63 acres along US 290. The facility will have about 3,000 square feet of office. A number of developers have recently purchased land in Waller for both residential and industrial sites.