HOUSTON—The demand for prime parcels of land in the neighborhood south of Buffalo Bayou Park has skyrocketed since the redevelopment of the park, a 160-acre stretch along a 10-mile waterway. The park is Houston's own version of Central Park and is referred to as “Houston's New Front Porch.” (Related: Levy Park improved the city's real estate landscape as a transformed urban space.)

A 32,640-square-foot tract of land in the neighborhood south of Buffalo Bayou Park is located at 710 Waugh Dr. (on the corner of D'Amico Street), one block south of Allen Parkway. It is directly across from Houston's largest Whole Foods Market and between two transformative new urban developments: Regent Square, a planned 23 acre mixed-use/town center development, and a planned $500 million mixed-use development on Gillette Street.

Berkadia's land services team is currently marketing the land available for ground lease nestled between River Oaks, Montrose and Memorial Park. The team, including senior director Kristen McDade, is marketing the property on behalf of the owner.

“People are now placing a premium on good experiences–on health and wellness experiences, learning and growth opportunities, and chances to come together as a community,” McDade tells GlobeSt.com. “That's obviously been transformative for the retail sector, which has had to adapt its model to factor in e-commerce, but I think we're seeing the impact across all commercial real estate sectors. And to the extent that good urban planning and design of green or open space creates a positive environment for people to get all of the aforementioned experiences, that absolutely has an impact on property values.”

The 710 Waugh subject site is located at a fully lighted intersection with ±100-feet of frontage on D'Amico Street (with one curb cut) and 265-feet of frontage on Waugh Drive (two curb cuts).

“While sites in this area are scarce and prices are at a premium, 710 Waugh is very attractive to developers because it has no restrictions, offers direct access via Waugh and D'Amico, and traffic counts and demographics are extremely strong,” McDade said. “The site is ideal for vertical development or mixed-use development, as activity and interest in this high-profile corner location is very high.”

Berkadia is a joint venture of Berkshire Hathaway and Leucadia National Corporation.

The 710 Waugh subject site is located at a fully lighted intersection with ±100-feet of frontage on D'Amico Street (with one curb cut) and 265-feet of frontage on Waugh Drive (two curb cuts).

Berkadia is a joint venture of Berkshire Hathaway and Leucadia National Corporation.

Instant Insights /

Real Estate Emphasizes Health and Gathering Experiences

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