July 6, 2017
Clay Development & Construction Inc. began construction on the speculative, two-building, 334,360-square-foot Energy Commerce II, the second phase of the 45-acre Energy Commerce Business Park. The industrial development is on Sam Houston Parkway/Beltway 8, just south of SH 225 in Pasadena, TX. The second phase is scheduled for a Q1 2018 completion.
John Simons and Holden Rushing of NAI Partners will handle sales and leasing for Energy Commerce II. Trustmark Bank provided construction financing.
The park’s first phase, which delivered in 2016, is 70% leased. Clay Development built the two-building phase one, which was acquired by First Industrial Realty Trust while under development. Robert Clay, president of Houston-based Clay Development, told Realty News Report that demand for new construction is expanding in the Port of Houston submarket, due to growing refinery output and exports.
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