Houston-based Gulf Coast Commercial Group Inc. is finalizing development plans for Magnolia Village, a 60-acre mixed-use project at FM 1488 and Spur 149 in the Magnolia area. Slated for completion in fall 2022, Phase I of the project will encompass 36 acres, and incorporate both retail and office elements as well as 300 multifamily units.
Gulf Coast Commercial Group Inc. is purchasing the property from Parkside Capital, a Houston-based land fund that specializes in acquiring path-of-growth properties across Greater Houston.
“We are extremely bullish about the future of this rapidly growing and currently underserved north-side pocket,” said Tom Lile, Gulf Coast Commercial Group Inc. president. “It’s one of the most dynamic suburban intersections to arise since COVID began and ideally poised for daily needs tenants ranging from restaurants and medical to service businesses and general retail.”
Magnolia Village will be located directly across Spur 149 from Stratus Properties’ proposed 120-acre Magnolia Place mixed-use development, with a new H-E-B soon to be underway along with planned future housing.
While Gulf Coast Commercial Group Inc. will be overseeing big box and office leasing within Magnolia Village, it has tapped Court Richardson and Thomas Holdsworth of Houston-based Ironbridge Realty Partners to market the multi-tenant retail and restaurant spaces fronting FM 1488 and Spur 149.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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