Houston-based W Land Development has successfully secured financing for Phase 1 of its ambitious project, Preservation Creek, a master-planned community designed to ultimately introduce 5,700 homes to the city of Alvin, located south of Houston.
The financial backing comes from Trez Capital, which provided $58 million. This funding will serve to recapitalize the project and facilitate the horizontal development of Phase 1, which will include essential infrastructure such as utilities and streets.
Spanning 367 acres, this initial phase is set to feature more than 700 single-family lots. The community is situated at the intersection of FM 1462 and County Road 395 in Brazoria County, approximately 30 miles south of Downtown Houston.
Once fully completed, Preservation Creek will encompass over 3,000 acres and is expected to house around 5,700 residences, contributing significantly to the population growth of Alvin, which has a population of under 30,000 as of last year.
The development will not only comprise single-family homes but will also include duplexes, build-to-rent residences, commercial and retail sites, multifamily housing options, various amenities, and even an elementary school. The initial lot deliveries are anticipated to occur in the winter of 2026, marking the beginning of this extensive community’s growth.
In related real estate activities, Colliers has reported the sale of Green Arbor Apartments, a 252-unit complex situated at 10601 Sabo Road, in Houston’s Southbelt-Ellington area. The transaction involved brokers Chip Nash, Bob Heard, and Jaleel Adatia, who represented the sellers in this deal.
Stonemont Financial Group, an Atlanta-based private real estate investment firm, has achieved a significant acquisition by securing a 6-acre property that features 61,000 square feet of office, maintenance, and manufacturing space located at 615 N. Sixth St. in La Porte. This site, positioned at the entrance to Barbours Cut Terminal of Port Houston, is planned for retenanting after a short-term sale-leaseback.
In another transaction, Colliers announced the successful sale of a 67,000 square foot industrial facility located on 15 acres at 9803 Sheldon Road. The facility, constructed in 2008, offers around 10 acres of stabilized yard space alongside 6,000 square feet of office space. Zack Taylor and Todd Moore represented the seller, while Mike Taetz represented the buyer, showcasing the ongoing demand for industrial space in Houston.
Furthermore, Dallas-based Apricus Realty Capital has acquired an 11-acre industrial outdoor storage property at 6003 Cunningham Road. This property is currently leased to Knight Oil Tools and includes 32,000 square feet of warehouse space that has been fully leased since 2002.
The acquisition was achieved through a partnership with ABR Capital Partners as part of their joint venture focused on IOS aggregation. Apricus’ Garrett Marler and Cort Martin led this acquisition, with assistance from Jason Tangen and Paul Dominique of Colliers, who represented the seller. Additionally, JLL Capital Markets’ CW Sheehan, Peyton Ackerman, and Nate Henderson facilitated the joint venture’s debt financing.
On the leasing side, Dean & Draper, an insurance brokerage based in Houston, has leased 26,000 square feet at Eleven77, a Class-A office building located at 1177 W. Loop S. This relocation from their previous headquarters at 3131 W. Alabama St. in the Greenway Plaza submarket marks a significant increase in their operating space by roughly 40%.
Anthony Squillante and Dustin Devine of Avison Young represented Dean & Draper during the lease negotiations, while Kelli Gault, Doug Little, and John Heard of Transwestern acted on behalf of the landlord, Hicks Ventures.
In construction and development news, Trammell Crow Co. and its joint venture partner, CBRE Investment Management, have officially broken ground on Phase 1 of Gulfbelt Logistics Park. This industrial project is located at the north corner of Interstate 45 and Beltway 8 in Southeast Houston.
Phase 1 will feature three Class-A speculative warehouses totaling 499,000 square feet and is targeted for delivery in spring 2026. When fully built out, Gulfbelt Logistics Park will encompass six warehouses totaling 944,000 square feet.
Marketing and leasing efforts for this ambitious project are being spearheaded by Jason Dillee and Cape Bell of CBRE. The project’s design has been entrusted to Powers Brown Architecture, while civil engineering is being managed by LJA Engineering. Burton Construction has been selected as the general contractor for Phase 1, with financial backing provided by Veritex Community Bank.
image source from：bisnow
