Longtime friends have joined forces to acquire one of “the most important” parcels in Houston, a 6.3-acre tract at the southwest corner of Post Oak Boulevard and BLVD Place, for a mixed-use development.
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John Goff, Doug Schnitzer and Leslie Doggett were all interested in acquiring the land, teaming up to form 1750 Post Oak Partners LLC. The LLC is a joint venture of Crescent Real Estate LLC, the Schnitzer family and the Doggett family, according to a news release.
“We have long viewed this site as one of the most important and well-located land parcels in Houston,” Goff, chairman of Crescent, said in the release. “Our venture with the Doggett and Schnitzer families was formed to capitalize on this unique opportunity to develop a mix of best-in-class office, hospitality, residential, and retail assets.”
The undeveloped parcel holds a central spot in land originally assembled by Wulfe & Co. and the late Ed Wulfe for the development of BLVD Place, now a 286K SF retail and office development whose tenants include Whole Foods, Frost Bank, Newmark, North Italia and Annie Cafe.
Multifamily developer and manager The Hanover Co. built two 30-story towers on the land.
“Post Oak Boulevard is one of the premier addresses in Houston, and we feel that this location is ready for an infusion of new luxury commercial and residential properties,” Schnitzer said in the release. “As native Houstonians who have watched the Uptown District flourish over the last 20 years, my family and I look forward to being part of the development of this world-class asset.”
The future development will have access from Post Oak Boulevard, BLVD Place, Post Oak Lane and Ambassador Way, the release says.
Doggett is the CEO and owner of Doggett Industries, a Houston-based, billion-dollar equipment dealer group. Goff is a private investor based in Fort Worth, according to the Crescent website.
Schnitzer is the chairman and CEO of Senterra LLC, a holding company with acquisitions, developments and multiple operating companies, according to its website.
“Our acquisition of this property brings together three families and three companies with deep roots in Houston,” Doggett said in the release. “This is a legacy project for all of us, and we believe it will become the new heart of Post Oak.”
Transwestern Real Estate Services’ Eric Anderson and Jeff G. Peden represented the buyer, and JLL’s Davis Adams, Graham Horton and Brandon Clarke represented the seller.
