Opus West Corp. has purchased 15 acres in Houston to develop a 638,000 sq. ft. office warehouse and service center. The firm also has a contractual option to purchase an additional 30 acres from Fannin/Pierce Junction Investment Co.

Article Tools

• 

Latest News

More Latest News

Most Popular Articles

• Pension Funds Scale Back Outside Real Estate Advisors
• Guarded Optimisim
• Taking a Direct Hit
• Five Misconceptions of 1031 Exchanges

Issue Archive

Issue Archive

advertisement

The purchase continues the Phoenix-based firm’s aggressive growth plan for the Texas market, which it entered in July 2002. It is actively pursuing build-to-suit, office, industrial, retail and multifamily opportunities in all of the state’s key markets, including Dallas/Fort Worth, Houston, San Antonio and Austin.

Opus Fannin Center will be part of Fannin 610 Business Park, one-half mile south of the Reliant Stadium/Astrodome area and 2.5 miles from the Houston medical center. "The close-in location of Opus Fannin Center is its biggest selling point," said Joel DeSpain, Opus West’s director of development for Houston.

The first phase of Opus Fannin Center will include three buildings — a service center and two rear-load office warehouse buildings — totaling 200,000 sq. ft. Construction will begin in the third quarter, with completion scheduled for April 2004.