The 84 Lumber Co., headquartered in Eighty-Four, acquired 16.2 acres along US Highway 225 in Deer Park, southeast of Houston, and 9.9 acres along Greenland Drive, just southwest of US Highway 59, in Stafford. Braxton Brockenbrough with the Houston office of the Dallas-based Weitzman Group tells GlobeSt.com that the Deer Park property was purchased from Grisham Tolar Properties of Houston. The Deer Park acreage came to the market for $1.25 per sf to $1.50 per sf; and the Stafford land was tagged at $1.75 per sf to $1.95 per sf.
An 84 Lumber spokeswoman says the Deer Park building will contain 3,200 sf of retail space and 18,390 sf of storage area for bulk materials. The structure will deliver in late summer on acreage.
The Stafford store, which will mirror the Deer Park project, will deliver at the end of June. B. Kelley Parker with Cushman & Wakefield of Texas Inc.'s Houston team represented the seller, the CM Garver trustee in Houston.
Meanwhile, a 10-acre tract at the intersection of US Highway 290 and Telge Road in the northwest submarket is under contract. The Pennsylvania company will buy the land from Northwest Lake LP of Houston. With the deal not done, Brockenbrough's mum about the price range.
Founded in 1956 by Joe Hardy, 84 Lumber is the nation's largest privately held, building materials supplier. According to Brockenbrough, the just-acquired land geographically complements South Texas locations in Conroe, north of Houston, and the suburb of Alvin in the far south submarket. The strategic geographical coverage and the proximity to booming residential development were the deal-makers for the land buys, he says.
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