HOUSTON-The University of Texas’ MD Anderson Cancer Center has become the first buyer in Wolff Cos.‘ latest development, Central Park. The cancer center acquired 34.5 acres for $34 million in a move to expand cancer treatment facilities to the west Houston area.
According to a press release about the transaction, MD Anderson considered several sites in the West Houston area, ultimately deciding on the 78-acre Central Park due to its location, visibility, access, expandability, and physical dimensions. Central Park is on the north side of Interstate 10, between North Eldridge Parkway and SH 6 in the Energy Corridor submarket. MD Anderson’s acreage is on Interstate 10, between Eldridge and Park & Ride Drive.
“Central Park is the largest remaining parcel available for development in the Energy Corridor, and MD Anderson’s purchase here is indicative of the area’s concentration of not only energy companies, but also the entire range of commercial and institutional property users,” comments David S. Wolff, chairman and president of Wolff Cos. in the press release.
He explains that the business park, which was assembled in 2010 and 2011, is midway between Loop 610 and Grand Parkway, which is currently being expanded to the north. “With the planned completion of Park Row through the property connecting Eldridge and State Highway 6, Central Park will have incomparable access,” Wolff adds.