Enticed by the strength of the market, the need for mid-sized office space and the ongoing construction of the nearby ExxonMobil development, the real estate firm Finial Development and Construction has purchased a 13-acre site in Spring for a planned nine-building warehouse and office development.

Finial Group Partner Mike Sperandio said clearing on the site—on the east side of Whitewood Drive just southeast of Louetta Road and I-45—has already begun, and the first building could be completed as early as September. Each building is planned to occupy about 10,000-15,000 square feet, Sperandio said, and the entire project could take as long as two years to complete depending on demand.

"We've had a tremendous amount of demand already, and we think [the space] is going to go quickly," he said.

The 135,000-square-foot Louetta Business Park has already received interest from oil and gas companies and other ancillary businesses that could benefit from the nearby ExxonMobil development, Sperandio said, although no new businesses have pre-leased. He said developments in the area have done well, and the site's proximity to I-45, The Woodlands and Bush Intercontinental Airport was also attractive.

"We're opportunistic developers and we had some news about what was going on in Spring with ExxonMobil, and know there were businesses which were going to want to be around that," Sperandio said.

In providing 10,000-15,000-square-foot spaces, the business park will also address a gap in the marketplace for companies too large for most small office spaces and too small for significant spaces, he said. Sperandio also praised the location as a "clean, unique site," located just east of retail development.

For more information on the Louetta Business Park or Finial Development Construction, go to the company's website at www.finialgroup.com.