Moody National Companies Acquires 12.4 Acres in Houston Energy Corridor
Moody National Companies acquired 12.4 acres in the Energy Corridor/Park 10 Submarket at the Northwest Corner of I-10 and Highway 6.
John Tobin, with Stan Creech Properties, represented the seller, Granite Properties of Dallas, TX. Granite Properties developed the first phase of Granite Park 10, which is occupied by Accenture.
Alex Sims, Acquisitions Associate with Moody National Companies, sourced the land acquisition. Moody National Companies will develop phases two and three of Granite Park 10 on the 12.4 acres. Troy Malish, Vice President of Development with Moody National Companies, declined to comment on specific plans for these two development phases. Industry speculation suggests a mixture of hospitality, office and restaurants.
Moody National Companies was attracted to the Granite Park 10 site because of its immediate proximity to several of the most-profitable energy firms in the world. Also, rapid growth along I-10 West is creating technical pressure that is pushing Houston's center westward along the I-10 corridor.
This transaction represents Moody National Companies' second acquisition in the Energy Corridor over the past six months. Mr. Sims noted that Moody National Companies is actively sourcing additional raw land near high concentrations of office buildings within the East Coast, West Coast and Sunbelt.
Moody National Companies declined to disclose the purchase price.