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Houston Hit with Wave of Year-End Buys

HOUSTON-Raw land to industrial buildings headline this week's sales activity in Houston. Some undeveloped land is ticketed for retail developments, while a 3.6-acre tract will eventually house a full-service hotel.

By Jack Burney | Updated on December 29, 2000

HOUSTON-MetroNational Corp. is closing out the year with the sale of three parcels, northeast of Houston, which promises to be a busy place in 2001. The acreage is located near the intersection of Texas 249 and Willowchase Boulevard.

One transaction puts 3.6 acres into the hands of Hilcom Development, which is planning to build a new full-service hotel on the land. Meanwhile, Left Field Ltd. has bought 2.05 acres for retail/office development and Right Field Ltd. has taken over 1.61 acres for another retail/office development. International Realty Concepts has represented the buyers and Betz Cos. MetroNational in all three transactions.

In other activity, Fannin/Rusk Partners Ltd. has bought the 200,000-sf former Texas State Hotel at 720 Fannin at Rusk in downtown Houston. International Realty Concepts, Legacy Commercial Group and Seller’s Choice have represented buyer and seller in this one.

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