HOUSTON – (Realty News Report) – Freeway Properties has broken ground on a 150,920 SF office building along Interstate 10 near the Grand Parkway, in the Katy area west of Houston.
The building, which is the second phase of Freeway Properties’ Katy Ranch Offices development, is slated for completion in the summer of 2020.
Avison Young principals Sam Hansen and Doug Pack, will lease the new building representing the landlord, Freeway Properties, a Houston firm led by Mike Baker.
“The accessibility to the Katy Freeway and to more than 800,000 SF of nearby restaurants and shops makes this office building very attractive to employers and employees,” said Hansen. “With retail stores, entertainment venues and fitness facilities just a short, five-minute walk away, this is the perfect live-work-play locale for proprietors.”
To accommodate additional employees, an existing five-story parking garage will be expanded to accommodate more than 1,100 parking spaces. A skybridge will link the garage to the main lobby of the new speculative building, 24279 Katy Freeway.
“The excitement created by Phase I will continue to generate momentum for Phase II,” said Baker, the developer. “With the collaborative effort and support of Powers Brown Architecture, LSI Construction, Avison Young and the Katy Economic Development Council, this new project will be a great success and benefit the greater Katy area.”
Avison Young and Freeway Properties held a groundbreaking ceremony Thursday together with Lance LaCour, President and CEO of the Katy Area Economic Development Council; A.J. Breneman, Principal of Powers Brown Architecture and Kerry LaGrone, Managing Partner of LSI General Contractors & Construction Managers.
The first phase was completed in 2015 and is fully leased with nearly 20 tenants, including Flagstar Bank, Escalate Workspace, US Silica, JMT Engineering, Price Gregory International and KGA/Deforest Design. The two buildings will total more than 300,000 SF.
Houston-based Freeway Properties also developed the nearby Katy Ranch Crossing retail center, just west of the Grand Parkway.
July 18, 2019 Realty News Report Copyright 2019