December 19, 2019
Investment & Development Ventures LLC (IDV) struck a deal with the Texas General Land Office to acquire 214 acres of development-ready land on Houston’s southeast side. The new land owner is making plans to build an industrial park on the acreage, which fronts Beltway 8/Sam Houston Tollway. Seller GLO acted on behalf of the Texas Permanent School Fund, which owned the land at Beltway 8 and Martin Luther King Boulevard since 2004.
“This is a key tract of land. The fact that it’s coming back on the tax rolls is a significant impact for that area of Houston,” said Dave Ramsey, with NewQuest Properties, who represented the seller along with colleague Brad Elmore. IDV’s Tyndall Yapp negotiated on behalf of the buyer.
IDV is involved with the final design and permitting stage for its industrial park, which could break ground by late January, 2020.
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