Houston Business Journal (September 26, 2020) – HBJ’s 2020 Landmark Awards: Land Deal Winner and Finalists
Click here to view the article on Houston Business Journal.
Winner: Alexan Memorial
Buyer: Trammell Crow Residential
Seller: DePelchin Children’s Center
Developer: Trammell Crow Residential
General contractor: Trammell Crow Residential
Broker: Dosch Marshall Real Estate
Land along Memorial is rare and, in this case, the tract of land was 2.5 acres and owned by a nonprofit organization. The development of this property marks the development of one of the last large acreage sites along Memorial inside the 610 Loop.
The land has been owned by DePelchin, a foster care and adoption agency, for decades, but it wasn’t until 2018 that it decided to formally market the property after receiving several unsolicited offers over the years. Trammel Crow Residential, a multifamily developer, purchased the property and is developing a 356-unit luxury apartment community.
Size: 2.53 acres
Project value: Not disclosed
—
Finalist: Broadstone Museum District
Buyer: Alliance Residential Co.
Seller: David Gibbs Associates
Developer: Alliance Residential Co.
General contractor: Alliance Residential Co.
Architect: EDI International
Engineer: Sterling Engineering Design
MEP: HGE Consulting
Interior designer: Kathy Andrews Interiors Inc.
Broker: Dosch Marshall Real Estate
Financier: Carlyle
Attorney: Locke Lord LLP
Alliance Residential Co. purchased this parcel of land in the Montrose/Museum District area to redevelop a shopping center that had existed there for decades. Alliance is developing a nine-story, 325-unit luxury residential project on Montrose Boulevard at U.S. 59, a premier location in Houston. The developers say it’s rare to find 2 acres of contiguous land on Montrose available for re-development.
Size: 2 acres
Project value: Not disclosed
—
Finalist: Trammell Crow Co. in Partnership with Clarion Partners
Buyer: Trammell Crow Co. in partnership with Clarion Partners
Seller: Weiser Airpark: members of the Weiser family; Adjacent land: Huffmeister Interests
Developer: Trammell Crow Co. in partnership with Clarion Partners
Brokers: Lee & Associates (Trammell Crow and Clarion Partners), Wendy Cline Properties (Weiser family)
After operating for more than 50 years as an airport, Weiser Airpark in Cypress will soon become a massive industrial park as a result of one of the largest land transactions of 2019. Represented by Lee & Associates, Dallas-based developer Trammell Crow Co., in partnership with New York-based Clarion Partners, closed on the 102.3-acre airport at 21904 Northwest Freeway, along with the adjacent parcel of land, bringing the total acquisition to 132-acres. The land, located right off of U.S. 290, has been transformed to provide connectivity between northwest Houston and the Greater Houston area. This land deal represents the selling of the last two – and largest –land sites along U.S. 290 in Northwest Houston.
Size: 132 square feet
Project value: Not disclosed
