Future Aggie Expressway Sparks 73-Acre Spec Play
January 12, 2022
HOUSTON – Marking its second trade in two weeks, a NewQuest Properties’ land team has closed a 73-acre sale in the SH 249 corridor, where investors are jockeying for early positions along the path of the state’s newest toll road.
The just-sold acreage is situated in Plantersville, less than 1.5 miles from a future on-ramp of the Aggie Expressway. The $767 million four-lane toll road ultimately will connect College Station and Houston.
Joe Burke and Rob Whitaker, both vice presidents at NewQuest, represented the seller, Craig Phillips of Savannah, Tenn. The buyer is Tayler Hugh and Nikki Iwen Long Family Revocable Trust of nearby College Station, which had Jennifer Bryan of Zweiacker & Associates Real Estate as its broker.
“It’s a good speculative land play,” Burke says. “The buyer understands the momentum of development is real and inevitable in that corridor.”
The Grimes County site, located along Deepwoods Lane, hit the market about nine months ago, quickly piquing investors’ interest despite its limitations. “There is no public access, but there is a 1967 easement in place,” Burke explains. “The attraction is the Aggie Expressway.”
The NewQuest team recently sold 1,623 acres in nearby Montgomery to a residential developer. Infrastructure work is slated to begin this year.
“This is just the beginning,” Burke says. “The Aggie Expressway will ensure land sales will remain robust for years to come.”
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