The acreage is located at the parkway's intersection with Upper Lake Drive. The land is being marketed at $5.75 per sf.
Roddy McAlpine in Colliers International's Houston office tells GlobeSt.com that plans are being fine-tuned, but work should begin soon on the development. The Centre at Lake Houston Parkway LLC is the buyer of record while the seller of record is a private partnership, Holley/Guniganti Kings Lake Ltd. from Houston.
McAlpine, the deal's only broker, says the acreage has been on the market for a couple years. One contract was placed, he recalls, but Kingwood's land-use restrictions kept the deal from closing.
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