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CLEAR LAKE, TX-ExxonMobil has sold 23 acres with a gateway positioning to the City of Clear Lake. Comparable properties in the area are fetching $4 per sf to $9 per sf.

Randy Wile of Wile Interests in Houston tells GlobeSt.com that the talks took two years before the deal was sealed with ExxonMobil. The acreage takes up the southwest corner of Clear Lake City Boulevard and Texas 3.

Wile and his architects are now working on the master site plan. He says the goal is to create a “well-executed” design, subdivide the land and sell pad sites to developers. He will hold onto a few spots for Wile Interests’ projects. The land will come to market at $10 per sf to $18 per sf, sales that Wile says could start by year’s end.

Wile says the sale has triggered calls from small business owners looking to raise single-tenant office buildings plus he’s piqued interest from pad site developers, retailers and builders of grocery-anchored shopping centers.

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