Berkadia Houston’s new Land Services teamis currently marketing a prime32,640-square-foot tract of land available for ground lease in the highly desirable neighborhood south of Buffalo Bayou Park – nestled between River Oaks, Montrose and Memorial Park in Houston,TX.The team, including 18-year land brokerage veteran Kristen McDade, is marketing the property on behalf of the owner.
The property, located at 710 Waugh Drive (on the corner of D’Amico Street), is one block south of Allen Parkway, directly across from Houston’s largest Whole Foods market and between two transformative new urban developments: Regent Square, a planned 23 acre mixed-use/town center development, and a planned $500 million mixed-use developmenton Gillette Street.
The demand for prime parcels of land in this area has skyrocketed since the redevelopment of Buffalo Bayou Park, a 160-acre park along a 10-mile waterway. The park is Houston’s own version of Central Park and is referred to as “Houston’s New Front Porch.”
“While sites in this area are scarce and prices are at a premium, 710 Waugh is very attractive to developers because it has no restrictions, offers direct access via Waugh and D’Amico, and traffic counts and demographics are extremely strong,” McDade said. “The site is ideal for vertical development or mixed-use development, as activity and interest in this high-profile corner location is very high.”
The 710 Waugh subject site is located at afully lighted intersection with ±100-feet of frontage on D’Amico Street (with one curb cut) and ±265-feet of frontage on Waugh Drive (two curb cuts).
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Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
To learn more about Berkadia, please visit www.berkadia.com.
