(For more retail coverage, click GlobeSt.com/RETAIL.)

HOUSTON- Land belonging to cement producer Texas Industries Inc. will have a second life as a mixed-use community, Tierra Vista Lakes. The land mass is the largest contiguous block of developable acreage in northern Fort Bend County, where large tracts are trading for $25,000 to $35,000 per acre.

Local developer Clinton Wong, operating as Tierra Vista Lakes Ltd., tells GlobeSt.com that it’s too early to discuss specific land use. What is certain is it will be built out with retail and residential space. The land is bordered on the west by Harlem Road, will encompass the north and south sides of the proposed Bellaire Road and has frontage along Westpark Tollway.

Bill Byrd, principal with Colliers International Inc. in Houston, predicts dirt will start to move “before the end of the year, if not sooner.” He says the Westpark Tollway frontage will support a retail component, especially after rooftops come in although it’s too soon to determine what, exactly, will be built there, or how much space will be built. The new owner also got a hard corner at Harlem and Bellaire roads, another top candidate for retail build-out.

Byrd says the acreage overall is ripe for retail development because there hasn’t been a huge amount of retail investment made in the immediate area. “The couple of retail sales that have occurred recently around there are $8 per sf to $12 per sf for pad sites and that’s really it,” he adds.

Byrd says Wong beat out 10 other offers for the land because he placed the best overall offer. Start to finish, the deal took roughly three months to lock in and close. Wong’s added advantage was his ability to complete due diligence in a timely fashion, according to Byrd.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2024 ALM Global, LLC. All Rights Reserved.