HOUSTON – June 9, 2016 –CBRE announces the sale of 3.2 acres of land located in the highly sought after Spring Branch area of Houston, just west of Gessner & Clay Road. Leading national homebuilder Meritage Homes purchased the land for an undisclosed price.
Meritage Homes has planned a high-density residential, gated enclave targeted at the explosive interest in this area of central/west Houston. The development, named Shadowdale Terrace, will feature a mix of energy-efficient, two-story single-family homes that are 100% ENERGY STAR® certified, with price points starting in the mid $300s for homes ranging approximately from 1,930-2,870 square feet.
“Shadowdale Terrace is our newest community located in Spring Branch just a few minutes away from the best restaurants and retail locations offered at Memorial City, CityCentre, and Town & Country,” Meritage Homes Vice President of Intown Business Nick Luton said. “The homes will feature first floor living with downstairs masters and we will offer multiple floor plans to accommodate any arrangement. This will create an excellent opportunity for Houston families and professionals to cut their commute times while maintaining a suburban neighborhood feel.”
The CBRE team of Darin Gosda, Jazz Hamilton and Alex Makris represented the seller, Metro National Corporation.
“Given this area’s proximity to several neighborhood amenities and award-winning schools, I am confident that this new residential development will be a great fit for professionals and families who need easy access to I-10, the Sam Houston Tollway, and 290. Empty nesters who are turning toward a lower maintenance, turnkey living environment will also have some great living options once Shadowdale Terrace is complete,” Mr. Gosda said.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
