Moody Plans $13M Office Condo in Sugar Land

Moody National acquired the land on Emily Court near Dairy Ashford Road and US 90 from locally based Fuller Realty Partners LLC. Brett Moody, the company's chairman and CEO, says he was originally approached by Houston Center for Christian Counseling for some help in finding a new location due to an expiring lease in its Sugar Land office at 13333 Southwest Freeway.

"We'd originally assisted in purchasing them an office in Katy for expansion. When he approached us for the same type of assistance in Sugar Land, we found there weren't any office condos available there," Moody says. Nor could Moody National find small land plots. "The smallest we could get was two acres for the counseling office, and there were five acres adjacent to that," Moody says. "We figured it would be more economical to go ahead and build out the entire seven acres."

He tells GlobeSt.com that the condos will be 6,000-sf duplexes, with the sales price at $195 per sf. Moody is expecting a six-month permitting period, with groundbreaking to take place in early 2008. "We'll anticipate a delivery of about one every 90 days from that point forward," he adds.

Moody National Cos. is handling design, construction and sales. Alex Sims, Moody National's acquisition associate, represented the buyer in the land acquisition, while Steve Darnall was seller Fuller Realty's in-house representative.