Opus West Starts Construction on Houston 'Power Center'

With the announcement of The Crossings at Fort Bend Parkway in Houston, Opus West will have more than 3 million sq. ft. of retail under way in Houston, Dallas/Fort Worth and Austin over the next two years.

Opus Announces New Retail Power Center For Southwest Houston

Opus West Corp. recently announced that construction has commenced on The Crossing at Fort Bend Parkway, a 242,000-sq.-ft. "power center" at the northwest corner of Beltway 8 and Fort Bend Parkway in southwest Houston.

Opus West Corp., headquartered in Phoenix, has offices in Austin, Dallas and Houston, as well as three California branches, and is one of five regional companies within The Opus Group.

The Crossing at Fort Bend Parkway will be anchored by a 100,000-sq.-ft. Home Depot, slated to open before the end of the year. Other committed retailers include Office Depot, Panda Express, Whataburger, National Tire & Battery and Jiffy Lube. Opus is currently in negotiations with several other tenants.

Opus West closed on the property in May. The sellers of the land were Arthur S. Friedman and Max A. Friedman and were represented by Arthur S. Friedman, David Cook of Cushman & Wakefield of Texas and Ed Ryland of Ryland Enterprise.

Slated for completion in early 2007, the 56-acre development will include 80,000 sq. ft. of in-line space and 13 pad sites and 12 acres of multifamily housing. Opus is partnering with Trammell Crow Residential on the residential component that will offer large units and recreational amenities in a controlled environment, providing additional housing options for families in the southwest area of Houston.

"We strategically looked at the underserved and growth areas of Houston by examining both retail and residential needs," said Joel DeSpain, senior director of real estate for Opus West in Austin and Houston. "We're pleased that Opus can fulfill the needs of this community to deliver a highly anticipated combination of retail and living options."

Dean Lane and Eric Walker with NewQuest Properties are marketing the retail development.

The Crossing at Fort Bend Parkway underscores Opus West's focus on retail development in Texas, an effort that includes about 3 million sq. ft. of space. Included in this space is a significant new lifestyle center, the 1.4-million-sq.-ft. Hill Country Galleria in Bee Cave, an Austin suburb, and The Marketplace at Highland Village, which is the largest commercial real estate project to date in Highland Village, a growing suburb northeast of Dallas.

"With this project already under development as well as recently solidified plans, we will be working on more than 3 million sq. ft. of retail in Houston, Dallas/Fort Worth and Austin over the next 24 months," said Tom Kier, director of retail for Opus West in Dallas.

Aviall Hires Hillwood to Double Dallas Warehouse Space

Aviall Inc. announced today that it will begin construction in July on two additions to the company's Aviall Services unit Central Warehouse Facility and headquarters staff building. The expansion is expected to double the footprint of the 325,000 sq. ft. Dallas complex located at 2750 Regent Boulevard.

Aviall will construct a new 75,000-sq.-ft. building north of its current location and add about 250,000 sq. ft. of space to its existing warehouse and distribution facilities.

The projects are scheduled to be completed by January 2007. In 2001 Aviall opened its current corporate headquarters and central warehouse facility, near the intersection of IH-635 and North Royal Lane on DFW Airport property.

Aviall is a major solutions provider of aftermarket sales, supply-chain management and related value-added services for the commercial, general aviation and military segments of the aerospace industry. At present, Aviall Services, the world's largest independent provider of new aviation parts, markets and distributes about 650,000 unique aircraft and related parts from 220 manufacturers through 37 customer-service centers in North America, Europe and Asia-Pacific.

Dan Komnenovich, president and COO for Aviall Services, said six consecutive years of record sales have created the need for this expansion. Aviall's sales in 2005 reached $1.295 billion, up $131 million, or 11 percent from 2004.

Dallas-based Hillwood, best known for its development of the 17,000-acre AllianceTexas project in north Fort Worth and American Airlines Center and Victory near downtown Dallas, has been selected to develop and construct its new facilities.

The two additions will be fully climate-controlled with energy-efficient lighting and remote sensors. There will also be expanded facilities for training and meetings, increased parking and additional space for technology, sales, forecasting and procurement. A long-term lease for the property by Aviall extends to June 2020.