HOUSTON – (Realty News Report) – The 500-acre Moran Ranch along Interstate 45 in the Willis area north of Houston has been sold to real estate developers as the Houston metropolitan area continues to expand into outer suburban territory.
The buyer MRSS Partners Ltd., a partnership of Houston-based Satya Inc. and Stoltz Partners of Alpharetta, Ga., acquired the property from the Moran family.
The property is on the east side of I-45, south of FM 1097, near the new Woodlands Hills community.
Thirty-seven acres at the FM 1097 intersection have been sold to Fidelis Realty Partners for grocery- anchored retail. A home builder has contracted to buy 237 acres, according to the developers, who declined to identify the builder.
Swept into the northward development expansion, Willis is located about 50 miles north of downtown Houston. Willis, founded around 1870, had a population of about 6,400 in 2017, but the size of the community is growing significantly.
The Moran Ranch property is in an Opportunity Zone in the extraterritorial jurisdiction of both Willis and Conroe.
Wade Nelson of The Nelson Co., represented the buyer and the seller. Todd Edmonds of Colliers International was also involved in the deal, which reportedly attracted significant investor interest.
Willis has an elevation of 381 feet and the land has rolling topography.
Oct. 17, 2019 Realty News Report Copyright 2019
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