Seller Interplaz Ltd., a group of dentists from Hattiesburg, MS, let go of two tracts bisected by the Weldon Pines subdivision and fronting Aldine-Westfield Road. The acreage transferred in separate sales.
Tom Condon Jr. with Houston's Betz Commercial Brokerage tells GlobeSt.com that the buyer has not announced plans, but industrial development is one option whereas multifamily development is not since the area's not set up for high-density utilities. He says the dentists owned the land for the last 15 years.
Buying under the name of Cadbury Properties Ltd., the Houston group acquired 20 acres just south of Weldon Pines. The land came to market for $17,000 per acre.
A 15-acre tract, north of Weldon Pines, was bought under the name of Burnaby Properties Ltd. The asking price was $15,000 per acre.
Edward E. Taravella with Taracorp in Houston represented the buyer in both deals. Doug Dabbs with Texas American Title Co. coordinated the closings.
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