X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Retail developer and real estate services firm NewQuest Properties has purchased 4.5 acres at the northwest corner of Mason and Highlands roads in far west Houston near Katy. The firm already owns 4.5 abutting acres making the grand total for the parcel nine acres.

A spokesperson tells GlobeSt.com that NewQuest plans to take an existing 29,000-sf retail building and expand and remodel it into a 36,000 sf 24-Hour Fitness sports center. Additionally, another 34,000 sf of inline retail space and a pad site will be added to the property.

NewQuest purchased the acreage from grocery store chain HEB. Steven D. Alvis and Jay K. Sears of NewQuest Properties represented themselves in the land sale. David Kayle was the in-house representative for San Antonio-based HEB.

Formed in July of 2001 by a team of Houston real estate veterans, NewQuest Properties owns approximately 100 properties, more than 50 of which are retail centers.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.