The buyer, Konstantin Nikolaidis, got 35,719 sf of an eight-acre tract along US Highway 59. Roddy McAlpine of Colliers International tells GlobeSt.com that the Houston seller, Stanley Weinstein trustee, acquired the land several years ago and felt it was time to start reselling. The land was tagged at $1.75 per sf or roughly $62,500 per acre.
McAlpine and Bill Byrd, both with Colliers International's Houston office, represented the seller. Shirley Burrow of Burrow Real Estate in Porter bargained for Nikolaidis, who has other land holdings in the immediate area.
In Houston's northwest submarket, Kwik Kar Industries purchased a 23,800-sf pad site to Pinehurst Retail Center, a 40,000-sf property at the intersection of FM 1960 and Pinehurst Trail. Seller NewQuest Properties of Houston used in-house broker, Bob Conwell, to negotiate the terms while Gary Kob of Gary Kob & Associates, also Houston, represented the buyer. Kwik Kar owns car maintenance, dry cleaners and laundry facilities.
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