Home builder Weekley buys tract for headquarters building
Houston Business Journal
Tanya Sasser Rutledge
April 18, 1997
A tract now occupied by pet boarding kennels will soon become the site of
a new headquarters building for David Weekley Homes.
The $ 400 million Houston-based home construction company last week
closed on the purchase of a six-acre tract on North Post Oak Road, just east of Old
Katy Road, for development of the building.
The dozens of kennels operated by Horlock Boarding Kennels Inc. will be
shut down on April 21.
Dick Weekley, who heads up Weekley Properties, confirms that his company
and that of his brother, David Weekley Homes, will relocate to the new building
within the next 18 months. Officials at David Weekley Homes did not return
telephone calls by press time.
"We'll be moving too," Dick Weekley says of his company. "But this is
mainly about a move for David Weekley Homes. They'll be occupying about 95 percent
of the building, and we'll be taking up the rest."
Horlock Boarding Kennels owner Joe Todd did not return telephone calls
regarding the sale of his property to David Weekley Homes, but an official
there confirms that the company is going out of business and will cease operations
later this month.
Dick Weekley says land planners are currently working out the
configuration of the building, which he says will be a campus-style facility of 35,000 to
40,000 square feet occupying only two or three floors.
David Weekley homes will be moving from the Galleria-area office at 1300
Post Oak, where the company has been based since since 1985.
David Weekley Homes and Weekley Properties together occupy nearly 30,000
square feet of space in the 25-story tower, which was developed in 1983.
Warren Savery of Project Leasing Advisors, which handles leasing for the
1300 Post Oak building, says new building development makes sense for some
growing firms because the Houston office market has become tight. Rental rates
continue to rise in all sectors of the city, and large blocks of space are becoming
"We thought they might be considering their own facility because when the
market started to move up, we offered them an option to renew at a very good
deal and they didn't take it," Savery says. "We weren't sure why, but we
knew there must be something more to it."
Savery says the 493,630-square-foot building is currently 96 percent
occupied and is not in a position to handle a major expansion.
"If they were or are growing significantly, I'm not sure how I would do
it anyway," he says. "It would be a little bit tricky to handle that
David Weekley Homes annually vies with competitors Royce Homes and Pulte
Homes for the title of Houston's largest home builder.
Professional Builder Magazine recently ranked the company as the 20th
largest home builder in the country, having built nearly 200,000 homes since its
inception in 1976.
© Copyright 1997 American City Business Publications Inc.