Construction Begins for Freeport Ninety

STAFFORD, Texas – August 18, 2008 – AVERA, a commercial real estate development and investment firm, is pleased to announce construction has officially begun on its latest, multi-tenant business park, Freeport Ninety. Officials from AVERA and Cobalt Capital Partners held a groundbreaking for the 22.49 acre business park on Thursday, May 22, 2008.

The property, located within the Freeport Southwest Business Park on U.S. Highway 90A between North Promenade Boulevard and Murphy Road, was purchased in 2007 as joint venture between AVERA and Cobalt Capital Partners. Representatives from AVERA, Cobalt Capital Partners, CBRE, Amegy Bank of Texas, K-W Construction, Lin Engineering, Greater Fort Bend Economic Development Council, City of Stafford and Architects Plus attended the groundbreaking and lunch at Shadow Hawk Golf Club following the ceremony.

The 349,177 sq. ft. project will include five state-of-the-art buildings of prime warehouse/distribution and flex industrial space with a built-up roof system. Suited for both large warehouse/distribution tenants and small flex-space tenants, the property features dock-high and grade-level loading, the latest ESFR sprinkler systems, a large truck court and significant parking. Using the newest developments in the industry, construction is progressing as slabs have been poured and industrial-quality, tilt-wall panels are expected to go up in the coming weeks. Faron Wiley and Carlton Anderson of CRBE will handle the marketing of the property, which will be available for occupancy in the first quarter of 2009.

AVERA is a privately held, partnership-driven commercial real estate development and investment firm based in Houston, Texas. AVERA focuses on the acquisition, development, ownership and management of office and industrial properties, as well as commercial land sites and business parks. From design build capabilities and master-planned business parks to corporate build-to-suit and speculative development, AVERA handles all phases of development in a way that meets the client’s specific needs. For more information about AVERA, visit our Web site at averacompanies.com or call 713-783-9600.