The 157-acre landtract is in the path of growth and future development.
KATY, TX—Acquired by an affiliate of Rockspring Capital LLC in2014, a 157-acre tract is in the path of growth and future development, and was recently sold to the KatyIndependent School District. The land is located off of KatyHockley Rd., sharing two borders with Newland Communities'master-planned residential community, Elyson, and is west of GrandParkway, northwest of Houston.
“Katy's fast growing population and school district, which areoutpacing other markets around the state in terms of growth, madethis a strong sale for the buyer,” said Jim McAlister IV, presidentand CEO of McAlister Real Estate. “We had many prospects interestedin the space, especially from single-family developers andbuilders. But in the end, working with the district on this dealwas a great outcome for us and the owner.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
