Transwestern Development Co. Purchases Land for 1.2 million SF Industrial Project in Katy, Texas

HOUSTON, May 28, 2014 /PRNewswire/ -- Transwestern Development Co. today announces it has purchased a 74-acre site in West Ten Business Park on Interstate 10 at Cane Island Parkway in Katy, Texas. The firm will break ground in mid-July on phase one of West Ten Distribution Center, which consists of two speculative industrial buildings totaling 415,296 square feet. The two buildings have an expected delivery date in the second quarter of 2015, leaving approximately 42 acres for future development. The remaining land can accommodate approximately 800,000 square feet of speculative or build-to-suit developments after the phase one development. Transwestern Development Co. purchased the land from Houston-based Parkside Capital for an undisclosed amount.

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"Demand for industrial space continues to outstrip development in Houston," said Pete Johnston, senior vice president at Transwestern Development Co. "We are confident this strategic location will provide users with a viable solution to the current lack of high-quality industrial space in the Houston area."

The first building in phase one, which is a cross-dock building with 30-foot ceiling height, totals 340,503 square feet. The second building totals 74,793 square feet with 28-foot ceilings and a front-loading dock. The buildings are designed to accommodate a wide variety of users. The leasing team for the buildings consists of Transwestern's Managing Director Brian Gammill, Senior Vice President Darryl Noon and Leasing Agent Jude Filippone.

"With the potential for 1.2 million square feet, this is the largest project we've ever undertaken," said Carleton Riser, president of Transwestern Development Co. "Not only will West Ten Distribution Center be a hub of state-of-the-art facilities, but the planned I-10/Cane Island Interchange makes the park a highly accessible and strategic location for a multitude of industries."

The City of Katy is completing construction on Cane Island Parkway linking I-10 and U.S. 90. The Texas Department of Transportation will commence construction this summer on the related four-way, I-10 interchange with completion projected in 2015. This will provide a major strategic benefit to the Transwestern Development Co. project.

"We're pleased and proud to get the Cane Island Parkway/I-10 Interchange construction underway," said Lance LaCour, president of the Katy Area Economic Development Council. "Over the long-term, this interchange will create thousands of jobs, hundreds of millions in capital investment and bring over a thousand families to live in the City of Katy."

ABOUT TRANSWESTERN DEVELOPMENT COMPANY
Transwestern Development Company is a diversified business with expertise and experience in all commercial property types. The firm executes projects through a variety of venture and contract structures and has been creating commercial landmarks for itself, its partners and valued customers throughout the U.S. since 1978. Transwestern Development Co. operates as a principal, investing capital alongside its institutional equity partners in the development of speculative and build-to-suit projects, and as a fee developer for clients and user-owners. The company has amassed valuable experience in construction, design, sustainability, leasing, acquisitions, finance and asset management. As a member of the Transwestern family of companies, the firm capitalizes on the market insights and operational expertise of its affiliates, which include a diversified real estate services firm with 34 U.S. offices and a real estate investment management company. For more information, please visit transwesterndevelopment.com.

ABOUT THE TRANSWESTERN FAMILY OF COMPANIES
The Transwestern family of companies together comprises a diversified real estate operating, investment and development organization. The privately held, fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare to add value for investors, owners and occupiers of real estate.

Media Contact:
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SOURCE Transwestern Development Company