Going Once, Going Twice Is Buyer's Strategy

HOUSTON-The Cedar Family Holdings, a Houston-based charitable trust, is hoping for a quick turn-around on a holding that it has just bought in the city’s near west submarket.

The holding consists of a 4,791-sf building, which had housed a day care, and 11,652 sf of land at 8541 Long Point Rd. in Spring Branch. The property had been on the market for nearly three months when the trust had bought it from GWR Property and Mortgage Co., also a Houston business, and then immediately put it back up for sale, Gus Lagos, vice president of Grubb & Ellis Co.’s Houston office, tells GlobeSt.com. He and associate Paula Foster have brokered the deal once and are looking do so again.