Moody National Companies Acquires Sugarland Site for Build-to-Suit Pro Bono Development
Moody National Companies acquired its fourth Houston MSA site this year with the purchase of 6.282 acres located in the Sugar Land Business Park. Moody National Companies plans to develop 12 office condominiums on the site.
The development plan originated as a pro bono build-to-suit for Houston Center for Christian Counseling - a marriage and family counseling practice with offices in Sugarland and Katy.
As Moody National Companies underwrote the development, Moody saw an opportunity to profit by developing additional office condos in order to offset the cost of developing the Houston Center for Christian Counseling pro bono.
Alex Sims, Acquisition Associate with Moody National Companies, sourced the commercial land acquisition, while Steve Darnall of Fuller Realty represented the seller.
Moody National Companies finds the Sugarland site attractive for its strong demographics as well combined with the decreasing availability of raw land in the popular business park. The forthcoming Moody office condos will benefit from the synergy of being located near several new medical office buildings as well as the nearby Granite office development.
Moody National Companies is actively sourcing more development opportunities in the East Coast, West Coast and Sunbelt; and the firm is also interested in pursuing additional charity development opportunities in the future.