AmREIT bought 5.24 acres in Terramont and six acres beside College Park Village Shopping Center. The preleasing campaign has brokers courting the market with $23 per sf for inline space and $25 per sf for end caps. Preston Cunningham from AmREIT and Greg Jordan from the Woodlands Development Co. structured the land sales.
AmREIT plans to break ground in the fourth quarter on Terramont, located at the southeast corner of Woodlands Parkway and FM 2978 in the Village of Sterling Ridge. Anchored by a Wal-Mart Supercenter, the 24,000-sf project is scheduled for completion by late summer 2006.
Additionally, ground will break soon along College Park Drive in the Village of College Park for a 16,000-sf development beside an existing shopping center. The scheduled completion date is May 2006.
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