Katy's Grand West Crossing being developed by EastGroup Properties

EastGroup Properties is developing the Grand West Crossing project, a multi-tenant business park located in Katy.

According to the Houston Chronicle, the building, located at the southwest corner of Grand Parkway and Clay Road, will be 120,600 square feet and can accommodate tenants needing space from 10,000 square feet to the entire facility. Amenities will include electric vehicle charging stations and 28-foot ceilings.

The project is scheduled to be completed in April 2022. However, up to five more buildings can be added. Richard Quarles, Jarret Venghaus, Geoff Perrott and Eliza Klein with JLL Houston are handling leasing of the property.

The need for industrial buildings has been spawned by the growth of the industrial real estate market in Houston due to increased customer demand. In west Houston alone, about 2.3 million square feet of industrial space was built.

"We're also seeing a significant amount of residential development taking place in Houston," Jarret Venghaus, executive vice president of JLL said, according to Houston Chronicle. "With that comes demand from building material supply and related companies."

EastGroup Properties, Inc. (NYSE:EGP) is an equity real estate investment trust focused on developing, acquiring and operating industrial properties in Florida, Texas, Arizona, California and North Carolina. Their portfolio is approximately at 50.5 million square feet.