Cushman & Wakefield announced the firm has represented the disposition of 5.22 acres in Houston’s Independent Heights. The property, bordered by Crosstimbers Street and Yale Street, is located near quick access to the 610 Loop and I-45.
David Cook and Meredith T. Cullen of Cushman & Wakefield’s land brokerage team represented the seller Gross Investments. The property was sold to CJ Development, a company that develops mixed-use communities.
“Crosstimbers and Yale represented a rare opportunity to develop a strategic piece of real estate in North Houston,” said Meredith T. Cullen, Cushman & Wakefield Senior Director. “We were familiar with CJ Development’s previous development requirements. This site offers excellent ingress and egress to all areas of the city, and we knew this would be the right time to discuss the possibility of selling with Shawn Gross.”
The land sits near a new Whole Foods grocery store, Houston Community College, Graham Park, and Brash Brewing.
“I see a clear path of growth intersecting Yale and Crosstimbers,” said Johnny Vassallo, Partner at CJ Development. “We are looking forward to developing a new multifamily property to draw more Houstonians to this area. We saw similar potential when we purchased Long Meadow Crossing in Richardson.”
Gross Investments acquired the property three years ago and was originally advised on the purchase by Cullen.
Cushman & Wakefield advises sale of 5.22 acres in Northwest Houston
