TCC, Crow Holdings Pull Trigger on 2M-SF Park

MISSOURI CITY, TX-The 60-year-old Willowisp Country Club is getting a new lease on life, with Trammell Crow Co. and Crow Holdings planning to overhaul the 168-acre property into Lakeview Business Park. The partnership has begun work on a 240,000-sf, three-building industrial complex as its first phase.

The initial space is slated to deliver in early 2009. The development team is laying streets and utilities for the project at 14502 Fondren Rd. At build-out, Lakeview Business Park could hold 2.5 million sf.

Whether the remainder of the park goes spec, build to suit or a combination of both depends on the market. “We’re offering the buildings for sale or for lease, which is a little different from our typical program,” says James Casey, TCC’s managing director in Houston. TCC’s more traditional MO is to keep and lease what it builds.

“This method offers us greater flexibility since we have a lot of land for the business park,” Casey tells GlobeSt.com. “We’d like to get this park developed as quickly as we can and think offering these for sale will accelerate velocity of bringing users to the park.”

The spec buildings have already received LEED pre-certification, becoming the developers’ first industrial project to obtain the designation. The buildings will range from 38,000 sf to 153,000 sf. CB Richard Ellis’ Houston team is handling preleasing.

Powers Brown Architecture of Houston designed Lakeview Business Park. Rosenberger Construction LP, also from Houston, is the general contractor.

TCC and Crow Holdings acquired the defunct Willowisp Country Club and golf course in late 2007. Casey says the clubhouse and amenities were demolished shortly after the acquisition.