Missouri City’s Lakeview Business Park—a development that Trammell Crow began in 2008 during an economic downturn—is moving toward build-out. Three buildings have been sold to LT Foods, Flair Flexible Packaging and Allied Group, and a new project for CNC Manufacturing is underway. New businesses within the development have brought an estimated $126 million in new capital investments and dozens of jobs to the city.
“Even with the downturn in the economy, Lakeview [Business Park] was able to attract business,” said Joe Esch, director of economic development with Missouri City. “[Lakeview Business Park] really speaks to Trammell Crow’s commitment and partnership with the city and the county.”
Tax abatements outlined in incentive packages from Missouri City and Fort Bend County, such as infrastructure reimbursement and property tax abatements, have helped Trammell Crow advance the project and attract new businesses.
“Missouri City has been very responsive in all aspects of this project,” said Jeremy Garner, senior vice president with Trammell Crow. “[Lakeview Business Park] is a very large tract of land and is significantly bigger than what we would typically purchase. We are fortunate that the city and [Fort Bend County] were active in the process.”
Existing tenants of Lakeview Business Park include Lufkin Automation, LT Food, Flair Flexible Packaging, Allied Group, Warren Alloys and Southwest Electronic Energy. Niagara Bottling Company and CNC Manufacturing are among the new and incoming tenants.
Lufkin Automation broke ground on its 40,000-square-foot, $40 million facility in late 2009 and was the first company to move into Lakeview Business Park. The company moved from its location along Beltway 8 in Houston and brought nearly 50 jobs to Missouri City. As a result of recent expansions, CNC Manufacturing has plans to move into the business park and bring about 45 additional jobs during its first three years of occupancy, according to Trammell Crow.
Niagara Bottling Company opened its new 357,000-square-foot distribution center at Lakeview Business Park over the summer. The company announced that it expects to add between 59–98 new jobs in the next five years and more than 270 positions in the next 10 years, according to the company.
In addition to the new buildings totaling more than 240,000 square feet, Lakeview Businesses Park has 18 acres of development under contract and is expected to contract and additional 5 acres later this year. About 16 acres are being actively marketed for new tenants, Garner said.
“Everything that is being built here right now will be sold and occupied by tenants,” he said.
Once the 157-acre project is built-out, it is expected to bring a total of 2.5 million square feet of commercial and light industrial space to the city. When selecting the site, Trammell Crow looked for a location central to Houston’s major hubs, said Jim Casey, senior managing director with Trammell Crow. Lakeview Business Park is located at the corner of Buffalo Run and Fondren Road in Missouri City and is situated near Beltway 8, Hwy. 90 and the Fort Bend Tollway.
“Our tenants and the neighboring community will benefit from the sustainable building designs,” Casey said. “The buildings [are] ideal for companies seeking great access to many parts of the Houston region.”