Archway Properties is unveiling plans for the 111-acre Park Air 59, a mixed-use development planned for the largest undeveloped tract along US Hwy. 59 near George Bush Intercontinental Airport in northeast Houston.
Archway's acreage is situated within Humble's city limits at the eastern edge of one of the world's busiest airports. Location attributes include a three-quarter mile stretch of unobstructed freeway frontage, direct access to the FM 1960 corridor and a seven-mile trade area encompassing the entire 10,000-acre airport and Harris County's Kingwood, Deerbrook and Atascocita communities. Houston-based Archway has assembled the acreage over the last several years.
Park Air 59's first build-to-suit is under construction on a 4.2-acre tract at the junction of US 59 and Will Clayton Parkway. Archway is developing a 65,000-sf, three-story medical office building for Vital Heart & Vein. The project will deliver in mid-2018.
"The Vital Heart & Vein transaction is critical because we believe it can establish Park Air 59's medical presence," says Austin Alvis, an associate with Houston-based NewQuest Properties. He and Preston Cunningham of Cunningham Ventures are marketing the development and co-brokered the land sale to the cardiology group.
Archway has incorporated retail, restaurant, class A industrial and service-related uses into Park Air 59's master plan. With 85 acres of developable land, 54 acres are available for ground leases and sales – shovel-ready pad sites from one to eight acres. The balance of the land will be used for infrastructure, including a regional detention pond and internal roads.
The Park Air 59 amenity package includes a signalized intersection and unobstructed freeway visibility. Daily traffic counts are nearly 180,000 on US 59 and 45,000 for Will Clayton Parkway, the southern boundary of Archway's land mass.
Demographically, the five-mile trade area has 154,687 residents with an estimated average annual income of $88,710 per household. In the nearby communities of Fall Creek, Eagle Springs and Summerwood, more than 8,500 homes have been constructed to meet housing demands in the burgeoning northeastern corridor, helping to underwrite a 30% population spike since 2010. The 255-bed Memorial Hermann Northeast Hospital, the airport's official healthcare provider, is located about a quarter-mile west, as is the Kindred Rehabilitation Hospital Northeast.
"Archway Properties' Park Air 59 is designed to meet the growing demands being generated in northeast Houston. Its mixed-use setting will be tailored to the needs of the surrounding communities, travelers and the business sector," Alvis says.
Archway Properties, which also has an office in Dallas, specializes in build-to-suit projects, assembling individualized design and construction teams for each development, as is the case with Vital Heart & Vein's medical office building. Jeries Ganim of Commercial Regional Properties of Texas LLC represented the cardiology group in its site acquisition.
SOUTH TEXAS SALES
HAR Asset Management Ltd. has purchased 25.2 acres at the intersection of Stuebner Airline Road and Five Forks Drive, Spring, from the estate of Robert Lee Jenkins. Jeff Lokey of NewQuest Properties represented buyer and seller.
Archway WC59 Humble Ltd. has sold 4.19 acres at the intersection of US 59/Interstate 69 and Will Clayton Parkway, Humble, to Vital Heart & Vein. Austin Alvis of NewQuest Properties and Preston Cunningham of Cunningham Ventures represented the seller. Jeries Ganim of Commercial Regional Properties of Texas LLC represented the buyer.
Planet Three Consulting Corp. has purchased four acres at 11002 and 11004 San Leon Dr., Dickinson, from Prominent Estate LLC. Neal Thomson of NewQuest Properties represented the seller. Genie Jennings of Re/Max Cherished Properties represented the buyer.
Don Heathcott has purchased 2.68 acres at the intersection of TX 249 and Patridge Circle, Pinehurst, from Marc and Kristina Schultz. Rob Whitaker of NewQuest Properties represented buyer and seller.
CNB & Sons LLC has purchased 2.54 acres at the intersection of North Lake Houston Parkway and Lockwood Road, Houston, from A-K Texas Venture Capital. Neal Thomson of NewQuest Properties represented the seller. Larry Sanders of Elite Texas Properties represented the buyer.
SOUTH TEXAS LEASES
Urgent Care MSO LLC has ground-leased a 0.08-acre parcel at 11826 Broadway St., Pearland, from Baath Estate Holdings LLC. Neal Thomson and Brad LyBrand of NewQuest Properties represented the landlord. Stephen Tou of the Retail Connection represented the tenant.
BK Pizzeria LLC has leased 2,002 sf of retail space in Baytown Commons, 5010 Garth Rd., Baytown, from Woodmont Baytown LLC. Sam Seligmann of NewQuest Properties represented the tenant. Rob Snider of the Woodmont Co. represented the landlord.