Monday , 26 September 2016
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Chase Bank Moving on Two Tracts in Houston

Bill McDade

Bill McDade

HOUSTON – Chase Bank is offering two prime Houston parcels for sale – in downtown Houston and in the Greenway Plaza area. The marketing effort to sell the land offers opportunities to developers that will include new branch banks and drive-through facilities.

The downtown site – bounded by Congress, Milam, Franklin and Louisiana – is a full block in the northwest part of downtown. The 1.4-acre block, known as Block 18, is near the banks of Buffalo Bayou.

The downtown parcel is near the 16-acre U.S. Post Office which has been envisioned as prime redevelopment tract for large mixed-use project on the bayou.

The other parcel is in Houston’s Inner Loop – at the southwest corner of Richmond Avenue and Buffalo Speedway. A 40,000-square-foot building is now located on the 2.2-acre site.

The site, 3403 Richmond, is across the street from the old Jetton’s Cafeteria. Years ago, that stretch of Richmond Avenue was the location of some of the early-day projects by Houston developers Gerald Hines and Kenneth Schnitzer.

A team including veteran Houston broker Bill McDade of the CBRE Group, which is marketing the properties, says offers for the two parcels are due March 10.

Other CBRE professionals working on the deal include Mr. McDade’s daughter, Kristin McDade, John Fenoglio, Peter Mainguy II and Nolan Mainguy.

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