Several new commercial, office and industrial buildings are under construction or planned along Beltway 8 between Hwy. 249 and Hwy. 290. Developers attribute that trend to the area’s office occupancy rate and close access to major transportation arteries.
“[Access] to transportation is becoming critical, because time is so valuable to people,” said Kim Kobriger, managing partner with Lewis Realty Advisors. “It’s important for businesses so their clients have a relatively easy time getting to them, and likewise if you’re going to visit your clients.”
The West Eight Crossing site on the northeast corner of Beltway 8 and West Road will see several new tenants next year.
“We are negotiating with Salata and with Chipotle and Starbucks [to fill] two retail buildings,” said Bob Conwell, vice president with NewQuest Properties.
Combined, the two buildings will be about 13,000 square feet and will provide more dining options in an area devoid of many lunch choices, Conwell said.
“What’s driving it is all the office construction in the area,” he said. “The office construction and occupancy rate in this area is good.”
Construction on the new buildings is slated to start in the first quarter of 2013, and Conwell expects them to be open by late 2013.
Also on the same corner, NewQuest signed a lease with Chick-fil-A to construct a new restaurant adjacent to Whataburger.
Additionally, a La Quinta Inn is under construction at the same site and is set to open by spring 2013.
“Development around the Beltway has been significant if you think back to what it was there years ago when it was just side streets and now you can see all these businesses that are locating there,” said Frank Bruce, director of budgets and planning for Harris County.