|
3/09/21
|
Houston-based Luton | Underwood Development Partners acquired 10.62 acres of land located at 11514 Trickey Rd in Houston. The majority of the land will be developed for use as a single-family community.
The new ownership plans to build a 44-home, single-family for-rent community on 10 acres with completion anticipated for the fourth quarter of 2021. The remaining .62 acres, which has an existing commercial building with 4.8k sf of warehouse space, 1.2k sf of mezzanine space, and 1.6k sf of office space, is now being marketed for sale.
The site is within north Houston’s Greenspoint submarket. Greenspoint centers around the intersection of Interstate 45 North and North Sam Houston Parkway, 15 miles north of downtown Houston, and minutes from Bush Intercontinental Airport. Formerly named the Greenspoint District, the North Houston District is a management group that works with The Greater Greenspoint Tax Increment Reinvestment Zone (TIRZ) to improve the area’s infrastructure and mobility. The area features Greenspoint Mall, large green spaces and designated parks, among other amenities.
Tommy LeBlanc and John-Michael Kamel with Avison Young represented the seller, Alpha Neutronics. Avison Young also sourced the buyer in the deal. LeBlanc and Kamel are also marketing the existing building for the new ownership.
This deal marks Luton Underwood’s first development project since it was formed in 2020 by real estate developers, Nick Luton and Carson Underwood. The full-service real estate land acquisition and development firm specializes in suburban, urban and Municipal Utility District maximization.
|
|
Return to the Archive page
|
|
|
|
|