The 157-acre land tract is in the path of growth and future development.
KATY, TX—Acquired by an affiliate of Rockspring Capital LLC in 2014, a 157-acre tract is in the path of growth and future development, and was recently sold to the Katy Independent School District. The land is located off of Katy Hockley Rd., sharing two borders with Newland Communities' master-planned residential community, Elyson, and is west of Grand Parkway, northwest of Houston.
“Katy's fast growing population and school district, which are outpacing other markets around the state in terms of growth, made this a strong sale for the buyer,” said Jim McAlister IV, president and CEO of McAlister Real Estate. “We had many prospects interested in the space, especially from single-family developers and builders. But in the end, working with the district on this deal was a great outcome for us and the owner.”
McAlister Real Estate's Harrison Kane, James Kadlick, Matt Herring and Chris Hutcheson represented Rockspring Capital in this sale. The Katy Independent School District was consulted by Jared and Fred Fargo of Consolidated Property Advisors.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
