Transwestern has a major 312,000 square foot Class A office building under construction at 11330 Clay Road at the northwest corner of Clay Road and the Beltway 8 frontage road. The new building is a five-story L-shaped structure with a parking garage at the rear. Floor plates are 62,400 square feet in size. Net rentals are $23.75 per square foot with expenses estimated to be $10.83 per square foot. Completion is targeted for May 1.
According to Transwestern leasing broker, Eric Anderson, the building is already 100% leased with 3½ months to go before completion. Primary tenants are GE Oil & Gas with 240,000 square feet of space and Superior Energy Services with 70,000 square feet. Both companies already occupy substantial space in the Spring Branch District on the east side of the Beltway.
At a minimum overall construction cost of $130 per square foot, it is estimated that the capital cost and taxable value of the new project will be around $40 million. The Spring Branch District is pleased to see continued high value commercial development in the Beltway 8 Corridor and compliments Transwestern on the successful lease-up of its building well before the completion date.