Houston-based Satya recently sold 31.64 undeveloped acres in the Willis/Conroe area to Fidelis for future retail development. The seller was MRSS Partners Ltd., a partnership of Satya Inc. and Stolz Partners. There were no brokers involved in the transaction. The land price was not disclosed.
This land is part of the 500-acre Moran Ranch development located on the east side of Interstate 45 North and FM 1097. Satya purchased the property in July 2019 and is in the midst of creating a mixed-use development comprised of retail, multifamily, office and a potential medical campus.
Additionally, Satya sold 1.2 acres of undeveloped land in Cinco Ranch at the intersection of Mason and Fry roads to Xuyen Trang for future development. This is the final Satya-owned Cinco Ranch parcel since the firm acquired 8 acres in 2008.
Joshua Jacobs of Blue Ox Group represented the seller and Lily Loh of LV Realty represented the buyer in this transaction. The price was not disclosed.
“With the pandemic’s unprecedented impact, it is encouraging to see these sales happening and brings a sense of tenacity in the CRE market,” said Sunny Bathija, CEO of Satya. “I am confident in Houston’s robust market and look forward to a strong recovery in 2021.”
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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