Houston Hit with Wave of Year-End Buys

HOUSTON-MetroNational Corp. is closing out the year with the sale of three parcels, northeast of Houston, which promises to be a busy place in 2001. The acreage is located near the intersection of Texas 249 and Willowchase Boulevard.

One transaction puts 3.6 acres into the hands of Hilcom Development, which is planning to build a new full-service hotel on the land. Meanwhile, Left Field Ltd. has bought 2.05 acres for retail/office development and Right Field Ltd. has taken over 1.61 acres for another retail/office development. International Realty Concepts has represented the buyers and Betz Cos. MetroNational in all three transactions.

In other activity, Fannin/Rusk Partners Ltd. has bought the 200,000-sf former Texas State Hotel at 720 Fannin at Rusk in downtown Houston. International Realty Concepts, Legacy Commercial Group and Seller’s Choice have represented buyer and seller in this one.

A California investment group, represented by Investar Real Estate Services, has snapped up the 70,000-sf Shadowbriar Shopping Center at 12280 Westheimer in far west Houston from Shadowbriar Partners Ltd. International Realty Concepts has acted on behalf of the seller.

A 13-acre buy at Aldine-Westfield at Old Cypress in north Houston has put Tanglebriar Trust in as the owner, acquiring the site from All States Resources Corp. and Mid-States Resources Corp. Clay & Co. has represented the seller.

In another commercial land deal, Mike Hubbard and Chris L. Thompson, represented by Clay & Co. and Colliers International, has secured eight acres at Kitnman Road in Cypress from the Rev. Joseph A. Fiorenza.

The Radler Limited Partnership, represented by servicing agent Lennar Partners of Miami, is the buyer of an 113,000-sf office building at 6511 Southwest Freeway. CB Richard Ellis has acted for the seller, Bank One.

Worldwide Machinery has bought a 2,500-sf building, positioned on 3.1 acres at 16029 E. Freeway. Seller Ellsworth Motor Freight Lines has been represented by Mike Wallace while the buyer’s broker is Century 21 Graystone Realtors.