34 Acres Change Hands in Northwest Houston

HOUSTON-More than 30 acres in two land transactions have been sold in northwest Houston to Ballater, Ltd. and Huffsmith-Kohrville Inc. Keith K. Edwards of Houston-based Caldwell Watson Real Estate Group worked on both of the deals.

Huffsmith-Kohrville, Inc. has purchased 25 acres at Texas 249 and Coons Road in northwest Houston. Edwards tells GlobeSt.com the buyers plan to build a hotel/resort. He says the company owns similar properties in Miami and Mexico City.

Martha Turner Properties represented the buyer, while Edwards represented the seller, Woodland Gate, Inc., Gulfree Properties Inc. and Thor Sandgren. Edwards wouldn’t reveal the selling price, but the advertised asking price for the tract was $2 million.

Also in northwest Houston, Ballater Ltd., has bought 8.9 acres in Northwest Crossing Section 3 at Hollister Road between West Tidwell and Wilshire Place. The advertised asking price for the property was just under $1 million.

Edwards was joined by Keith K. Grothaus, also of Caldwell Watson, in negotiating the transaction. The land was sold by Hollister, LP, a Texas limited partnership. Edwards says the land will be used for future condominium development. Edwards notes Ballater plans to close on another 8-acre tract off Spring Cypress Road later this month. He believes this property will also be a site of condominium development. Edwards says the location was a big draw for Ballater.

Edwards and Grothaus, who both handle land transactions for Caldwell Watson, will outperform last year.

“Business is very active,” Edwards says. So far this year, Edwards has closed 25 land transactions and Grothaus 30 resulting in more than 50 deals for Caldwell Watson. Edwards says at least eight additional transactions will be added to this total by year-end.