Houston Business Journal- A 57-acre land tract in a southwest Houston master- planned community will be transformed into a walkable, high-end retail development.
Houston-based NewQuest Properties bought 57.2 acres in Aliana, a master- planned community in Fort Bend County around 30 miles southwest of Houston. JLL's Simmi Jaggi and Elizabeth Clampitt brokered the sale on behalf of Aliana Development Co.
"NewQuest had always been interested in the area, ... (and) our mission was (providing) services for the community," Jaggi said.
Although there aren't many firm details on the retail project, NewQuest will develop a walkable, urban retail district on the land that'll be somewhat similar to Brazos Town Center or New Braunfels Town Center at Creekside, said Travis Stone, president of Aliana Development Co.
NewQuest developed both of those projects. Brazos Town Center is a master- planned commercial development in Rosenberg that contains 1.8 million square feet of retail. New Braunfels Town Center at Creekside is a commercial development that encompasses more than 1 million square feet of retail space. Its tenants include Ross, Dick's Sporting Goods, Best Buy, BJ's Restaurant and Brewhouse, and more.
NewQuest declined to comment for the story.
The Aliana community recently became home to Minneapolis-based Target Corp.'s first next-generation retail store. Target opened the 124,000-square-foot store at 10241 W. Grand Parkway S. in early November 2017; the store offers two different entrances, new departments and several other features.