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32,000-SF Retail-Zoned Tract Trades

HOUSTON-Wallace/Halpin LLC will start work within a month on the Gulf Freeway site, a one-time location for a service station. The tract at a high-traffic intersection is likely to push pre-leasing to 100% before the 8,000-sf project delivers.

By Jennifer Brenner Andrade | Updated on January 07, 2004

HOUSTON-Local developer Wallace/Halpin LLC has acquired a 32,000-sf retail-zoned tract in South Houston from Motiva Enterprises LLC in an all-cash deal. Work will begin this quarter on an 8,000-sf multi-tenant building.

The selling price is not being disclosed, but Harris County Appraisal District assesses the vacant tract at $239,740. Motiva acquired 9335 Gulf Freeway in 1998 from Shell Oil. At one time, the site held a service station.

Jim Wallace of Wallace/Halpin tells GlobeSt.com that says construction will ramp up later this month or early February. The retail project, set for a summer delivery, could hold as many as five tenants.

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