James E. Foreman of Cushman & Wakefield of Texas Inc. tells GlobeSt.com that the frontage had been a major factor in the sale since frontage parcels are rapidly disappearing along Loop 610. Foreman along with Cushman's B. Kelly Parker III has represented the seller, Cypress Realty Inc. Jim Bailey of Gems Realty has acted on behalf of the buyer, McCarty Drive LLC.
According to Foreman, McCarty Drive LLC already has construction crews hard at work on the site, which is being developed into a Ryder truck dealership. Austin-based Cypress Realty counts among its Houston projects the 30-acre Hempstead Highway Distribution Center. According to Cypress, 290,990 sf of the projected 540,000 sf is out of the ground, with 160,000 sf currently leased.
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