Six J Investments Finalizes 95-Acre Buy; For Sale Signs Already Up

HOUSTON-Years ago, Shell Oil Co. in Houston had bought up several parcels of available undeveloped land – just to hold and let it appreciate until the right moment came to sell it.

The right moment has come for one of the speculative parcels, a 95-acre plot in the Northview Park Section One at I-45 and South Richey. Shell had contacted Don Naughton, senior vice president in the Grubb & Ellis Corporate Services Group’s Houston office, telling him, in effect, “sell it.”

Naughton has, although the sale has come in two parts. The initial sale had involved about 66 acres. A 29-acre portion had required “some more due diligence,” Naughton told GlobeSt.com about the recently finalized sale. The buyer is Weimar, TX-based Six J Investments, headed by Al Jaska.