HOUSTON – Developers are ramping up plans to build more office space in the LaCenterra at Cinco Ranch following strong preleasing in Phase III of the LaCenterra of Cinco Ranch on the west side of Houston.
The project is being developed by a partnership of Vista Cos., which is a Houston company led by Woody Mann, and Denver-based Amstar.
Transwestern has preleased 15,469 square feet at LaCenterra at Cinco Ranch Phase III, located at 2717 Commercial Center Blvd. in Katy, Texas. Regus will occupy 12,373 square feet, and Cook Realty Group, LLC has leased 3,096 square feet. Transwestern Vice President Louann Pereira and Senior Vice President Paul Wittorf represented the building owner. Elliott Hirshfeld and Mike Kay with CBRE represented Regus in the transaction, and Les Stretch with Keller Williams Realty represented Cook Realty Group.
Phase III consists of 36,353 square feet of office space, which is currently 43.2 percent preleased, and 36,607 square feet of ground-floor retail space that will house the Katy area’s first Trader Joe’s location in 12,500 square feet. The building is pre-certified LEED Silver.
The final component of the office development, Phase IV, is a proposed 75,000- to 150,000-square-foot building expected to break ground in 2015.
“LaCenterra Phase III is a highly attractive opportunity for office users looking in the Greater Katy/West Houston area,” said Pereira. “LaCenterra offers tenants convenient access, abundant existing amenities and signage opportunities on the highly travelled Grand Parkway. We look forward to commencing on Phase IV and continuing our leasing momentum into 2015.”
LaCenterra at Cinco Ranch offers urban demographics in a suburban setting with prominent Grand Parkway visibility. The office projects sit on a 34-acre, mixed-use development with 242,000 square feet of retail space. The development is located directly on the Grand Parkway, three miles south of Interstate 10, also called the Katy Freeway.
Home building in the area has been strong because of the fast-paced job growth in the Energy Corridor district of West Houston.