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SPRING, TX-Eyeing what many locals consider the next “boom site” in the area, a partnership has acquired 23 acres in northern Harris County. The Houston-area buyer has paid close to the $8-million ask to get a retail development site.

Jeff Beard, CEO of the J. Beard Co. LLC in the Woodlands, confirms for GlobeSt.com that the property at West Rayford and Kuykendahl roads will be built out with retail. He says the tract could support up to 200,000 sf. Beard represented the seller, also a Houston investor, and will market the project for the buyer.

Beard says the advantage for retail development in the area is that North Harris County is expected to be the next high-growth residential corridor. “There’s already a ton of homes platted in the area,” he says, “and this is considered one of two or three of the fastest growing areas in Houston.”

In addition to being in the heart of a predicted boom area, Beard points out that the buyer, at this point, has little competition for retail. “The intention here is retail because when you look at surrounding centers, the nearest ones are about four miles away, in any direction,” he explains. “From that standpoint, retail on the site makes perfect sense.”

Beard says the property had been marketed for six months. “We had three offers on the land and a lot of interest from institutional developers and publicly traded entities trying to buy into Houston,” he says.

The new landowner is mapping out the site plan. Meanwhile, the list of pending decisions includes cost and a groundbreaking date.

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