The transaction closes out a 40,000-acre listing for B. Kelley Parker and John Littman, a Cushman & Wakefield of Texas Inc. team in Houston. Some tracts brought more than $1,000 per acre during the course of the disposition, which has exceeded 18 months.
Frank and Rima Alattar's new holding is situated 38 miles south of Houston and 12 miles south of the nearest town. The site includes prairie, coastal pasture and marshlands and has a waterfowl habitat and fresh and brackish water fishing on the Texas Gulf Plains. Littman says he believes the new owners plan to use the land for recreational and commercial purposes. But, he adds, the plans are still preliminary. Debbie Mahon at Southern National Bank provided financing.
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