News Release
BELTWAY AT BAMMEL, NEW 326,000 SQUARE FOOT, CLASS A FLEX/DISTRIBUTION PROJECT TO OPEN IN NORTHWEST HOUSTON BY YEAREND
Davis Commercial Development, Amstar Group joint venture to develop at Beltway 8 &
Bammel N. Houston
Two-building project with Beltway frontage and excellent freeway access
Pre-leasing underway
HOUSTON, Texas. (Mar 21, 2006) – Davis Commercial Development and Amstar Group today announced Beltway at Bammel, a 326,400-square-foot, Class A state-of-the-art flex/distribution business park located on the Sam Houston Tollway at Bammel North Houston Road. The partnership is building two facilities designed for office, flex, showroom and distribution customers, with both buildings benefiting from Beltway visibility, unfettered freeway access, ample parking and state-of-the-art design specifications.
“Groundbreaking is expected during March and shell completion by November,” said Jeffrey P. Davis, president of Davis Commercial Development, the Houston-based real estate company leading the project. “We see great things ahead for the Northwest submarket and look forward to working with local businesses to get their real estate needs met. At this point, we are considering pre-leasing proposals on a limited basis.”
Located at the northwest corner of the intersection of Bammel North Houston Road and the Sam Houston Tollway, Beltway at Bammel will accommodate businesses requiring high office finishout and extensive parking as well as those looking for modern distribution space.
“We can work with customers of all sizes, from 5,600 square feet on up,” Davis added, highlighting that the site’s location provides immediate access to one of Houston’s main traffic arteries as well as unparalleled signage opportunities.
Building One, at 134,400 square feet, will be an 18-foot-clear, dock-high, rear-load Class A flex building and Building Two, sized at 192,000 square feet, will be a 24-foot-clear, dock-high rearload Class A flex/distribution building. Both buildings will have advanced fire suppression systems and the capability to accommodate high levels of office build-out, and they will share a 200-foot truck court. Addresses for the buildings will be 4600 and 4650 N. Sam Houston Parkway.
“We are very excited about this project,” said Amstar Group CEO Gabe Finke. “Beltway at Bammel exemplifies our investment strategy: Our private equity firm looks for experienced partners and superior real estate opportunities. Jeff Davis has been building high-quality projects in Houston for 20 years, and we are bullish on the location and the flexibility of this site.
“Houston is one of our target investment markets and this site is primed for success because of its strategic position in the path of growth,” Finke added.
For more information about Beltway at Bammel, please contact Jeffrey Davis with Davis Commercial Development at (713) 974-8848.
About Davis Commercial Group
Davis Commercial Development LLC is a Houston-based real estate development and
investment company whose principal has more than 20 years of proven experience in designing,
developing, leasing and managing high-quality commercial and industrial properties. Jeff Davis
has taken the lead role in development or redevelopment of more than 2.3 million square feet of
investment-grade commercial and industrial properties since 1983. The company’s cornerstone is
the relationships developed with tenants, clients and investors that select the company as a
business partner. More information about Davis Commercial Development can be found at
www.daviscommercialdevelopment.com..
About Amstar Group
Established in 1987, Amstar Group is one of the leading real estate private equity firms in the
United States. The Denver-based company invests nationally in value-add acquisition and
development opportunities, often with local partners. In its history Amstar has acquired,
developed and sold more than $2 billion of real estate. Amstar’s current portfolio includes a mix
of office, multifamily and hospitality holdings in addition to a development pipeline of
industrial, multifamily and retail projects.
Beltway at Bammel is part of Denver-based Amstar’s $1.5 billion private equity investment
program. The firm committed approximately $700 million during 2005, and expects to place the
same amount this year. Recently in Houston, Amstar and a local development partner sold a
luxury apartment community in the Galleria market. Amstar also partnered with locally based
Cameron Management Inc. to acquire the historic Esperson office buildings downtown. In
addition to Beltway at Bammel, Amstar is currently developing with its local partner Vista
Equities Group LaCenterra at Cinco Ranch, a 240,000 square-foot lifestyle retail center located
at the Grand Parkway in west Houston.
For more information about Amstar Group visit the company’s website at www.amstargroup.com.