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Hines has acquired a 78-acre plot in Beacon Hill in Waller for an industrial project.
It is the first industrial sale made at Beacon Hill, a 564-acre mixed-use development by Wolff Cos.
Wolff is developing a business park with industrial and office, multifamily and retail distribution at the space. Long Lake Ltd. and associated development company Woodmere Development unveiled two model homes and a sales office last July, the Houston Business Journal reported. More speculative homes were said to be on the way. Wolff Cos. had sold 270 acres to Long Lake for residential development, and first residents moved into houses in August 2021.
Wolff Cos. is investing millions on infrastructure projects in the area, including new off-ramps, frontage roads and other streets. Beacon Hill Boulevard, an off-ramp west of FM 362, was completed last year.
Beacon Hill itself broke ground in 2020.
“The availability of large tracts of land, the quality of the local school district, crucial access to utilities and improved mobility have placed Waller County in the path of growth, not unlike the opportunity we saw years ago along I-10 in The Energy Corridor,” Wolff Cos. President David S. Wolff said in a release. “We expect the pace of development in the area will increase steadily now that U.S. 290 construction is complete and as we introduce new commercial sites in Beacon Hill.”
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