(Read more on the industrial market.)

BAYTOWN, TX-Land totaling 403 acres on the west side of town changed hands between two Houston investors, with the buyer planning to hold the acreage for awhile before making plans. Though the price was kept under wraps because of confidentiality agreements, area sources note that land in that quadrant of the market can sell for between $10,000 and $15,000 per acre.

Scott Davis, VP with CB Richard Ellis’ Houston office, says the land provided an ideal investment for buyer Fuller Thompson Ten Ltd. because it fronts Interstate 10, while being close to the Houston ship channel. Davis, who represented the buyer in the transaction, also pointed out that there is a rail line adjacent to the land. The buyer and seller Burnet Bay, Ltd. are both partnerships that have other holdings throughout the Houston area.

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