Investor R.B. Willoughby Jr. intends to use his new buy to continue growing feed corn, but it could be a good location for development as Castroville grows, Bob Trevino, the Grubb & Ellis Co. broker in San Antonio, tells GlobeSt.com. Trevino negotiated the sale for the Van de Walle family. Willoughby, a licensed broker, represented himself.
The land is situated between the Castroville city limits and the airport. "It's a prime property for development and annexation," Trevino says. The property also has water rights to wells on the Edwards Aquifer, a key element to development, he adds. The asking price was $3,400 per acre. Castroville, about 22 miles west of San Antonio on Texas 90, is a growing bedroom community for San Antonio.
The Van de Walles, known for a brand of salsa they sold about four years ago, had been a large agricultural owner in San Antonio. It disposed of a large piece of property near Kelly Air Force base after a lawsuit and sold about 300 acres in Hondo, west of Castroville. The last parcel to be sold is 18 acres at 5310 Old Highway 290 West in San Antonio.
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