5,700-Home Community Underway In Brazoria County: The Houston Deal Sheet
Houston-based W Land Development secured financing for Phase 1 of Preservation Creek, a master-planned community that will eventually bring 5,700 homes to Alvin, a city south of Houston.
Trez Capital provided $58M in financing to recapitalize the project and fund horizontal development of Phase 1, including utilities, streets and other infrastructure. The first phase includes 367 acres and plans for more than 700 single-family lots.
The community, at FM 1462 and County Road 395 in Brazoria County, is about 30 miles south of Downtown Houston. The full 3,000-plus-acre development is expected to bring about 5,700 residences to the area upon full build-out.
When complete, Preservation Creek will include a mix of single-family homes, duplexes and build-to-rent residences, as well as commercial and retail sites, multifamily properties, amenities and an elementary school. The first lot deliveries are expected in the winter of 2026.
The development could significantly increase the population of Alvin, which counted fewer than 30,000 people last year.
SALES
Chip Nash, Bob Heard and Jaleel Adatia of Colliers represented the sellers of Green Arbor Apartments, a 252-unit complex at 10601 Sabo Road in Houston’s Southbelt-Ellington area.
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Stonemont Financial Group, an Atlanta-based private real estate investment firm, acquired a 6-acre property with 61K SF of office, maintenance and manufacturing space at 615 N. Sixth St. in La Porte. The property is at the entrance to Barbours Cut Terminal of Port Houston. Stonemont plans to retenant the property following a short-term sale-leaseback.
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Colliers announced the sale of a 67K SF industrial facility on 15 acres with outdoor storage capabilities at 9803 Sheldon Road. Built in 2008, the facility has about 10 acres of stabilized yard space and 6,000 SF of office space. Zack Taylor and Todd Moore of Colliers represented the seller, while Mike Taetz of Colliers represented the buyer.
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Dallas-based Apricus Realty Capital acquired an 11-acre industrial outdoor storage property at 6003 Cunningham Road. The property is leased to Knight Oil Tools, a portfolio company of Voyager Interests, a Houston-based private equity firm. The property includes 32K SF of warehouse space and has been fully leased since 2002.
Apricus acquired the property in a partnership with ABR Capital Partners, a continuation of a joint venture focused on IOS aggregation. Apricus’ Garrett Marler and Cort Martin led the acquisition. Jason Tangen and Paul Dominique of Colliers represented the seller. JLL Capital Markets’ CW Sheehan, Peyton Ackerman and Nate Henderson represented the joint venture in the procurement of debt financing.
LEASES
Dean & Draper, a Houston-based insurance brokerage, leased 26K SF at Eleven77, a Class-A office building at 1177 W. Loop S. Dean & Draper will relocate its headquarters to the building from 3131 W. Alabama St. in the Greenway Plaza submarket, a move that increases its space by about 40%.
Anthony Squillante and Dustin Devine of Avison Young represented Dean & Draper. Transwestern’s Kelli Gault, Doug Little and John Heard represented the landlord, Hicks Ventures.
CONSTRUCTION & DEVELOPMENT
Trammell Crow Co. and joint venture partner CBRE Investment Management broke ground on Phase 1 of Gulfbelt Logistics Park, an industrial project at the north corner of Interstate 45 and Beltway 8 in Southeast Houston. The first phase will include three Class-A speculative warehouses totaling 499K SF and is scheduled to deliver in spring 2026.
At full build-out, Gulfbelt Logistics Park will include six warehouses totaling 944K SF. Marketing and leasing is being led by Jason Dillee and Cape Bell of CBRE.
Gulfbelt Logistics Park was designed by Powers Brown Architecture. Civil engineering is being performed by LJA Engineering. The Phase 1 general contractor is Burton Construction, and construction financing is being provided by Veritex Community Bank.
