What happens when excess land from a previous development finds its perfect match? M Square Commercial answered this question by facilitating the sale of a 0.558-acre property in Conroe, TX, enabling local business Taco Veloz to expand its fast-casual dining operations. This transaction highlights the strategic potential of underutilized commercial land in growing markets like Conroe.
Located at 826 S Frazier Street, the property was originally part of a Little Caesars development completed in 2017. Our ability to attract multiple offers ensured a competitive process, leading to a quick sale at the asking price. The streamlined timeline and collaboration with a local brokerage partner highlight the firm’s efficiency in closing transactions that drive local economic growth.
Project Overview: Conroe, TX Retail Land Sale
- Location: 826 S Frazier Street, Conroe, TX 77301
- Settlement Date: October 18, 2024
- Property Size: 0.558 acres
- Zoning: Conroe-NE
- Seller: Hutton Exchange Conroe TX, LLC
- Buyer: Taco Veloz, LLC
- Brokerage Partners: M Square Commercial and Louie Tijerina, Senior Associate CBRE
- Property Origin: Excess land from a Little Caesars development (2017)
Strategic Insights into the Conroe Retail Market
Conroe, TX, located in the fast-expanding Houston metropolitan area, has become a magnet for commercial investments. Its strategic location and population growth have made it an attractive destination for retail and restaurant developments. The Frazier Street corridor, known for its high traffic and proximity to established businesses, provided Taco Veloz with an ideal site for its latest expansion.
The property’s Conroe-NE zoning allowed for flexible retail and restaurant use, meeting the buyer’s operational needs. By selling this excess land, the seller significantly reduced holding costs, including local property taxes, while maximizing the value of the underutilized parcel.
How M Square Commercial Delivered Results
Market Analysis and Competitive Positioning
M Square Commercial identified the Frazier Street property’s potential as a prime location for local restaurant expansion. The firm’s marketing strategy focused on the property’s existing infrastructure, zoning flexibility, and strategic position in a growing market. These factors attracted multiple offers, positioning the seller to secure optimal terms.
Collaboration with Local Expertise
Recognizing the importance of local knowledge, M Square Commercial partnered with Louie Tijerina of CBRE. This collaboration facilitated direct communication with interested buyers and ensured smooth navigation of local market dynamics.
Streamlined Transaction Process
From initial marketing to closing, M Square Commercial maintained a focused approach. The team:
-
- Evaluated offers quickly to ensure alignment with the seller’s goals.
- Negotiated favorable terms while adhering to the short timeline.
- Managed all transaction milestones efficiently to meet the buyer’s and seller’s expectations.
Benefits of this Commercial Land Sale
For the Seller (Hutton Exchange Conroe TX, LLC):
- Eliminated ongoing costs, including property taxes.
- Achieved asking price in a competitive, multi-offer process.
- Divested underutilized land from a previous development.
For the Buyer (Taco Veloz, LLC):
- Secured a prime retail location with flexible zoning.
- Positioned the business for growth in a high-demand area.
- Benefited from a short contract timeline, enabling faster project initiation.
For the Conroe Community:
- Encouraged local economic growth with new business development.
- Revitalized an underutilized parcel, adding value to the Frazier Street corridor.
- Supported local job creation and enhanced dining options for residents.
Key Takeaways: Maximizing Value in Commercial Real Estate
This transaction highlights the value of strategic property disposition in thriving markets like Conroe, TX. By connecting sellers with motivated local buyers, M Square Commercial continues to support the growth of small businesses while maximizing value for property owners.
The success of this retail land sale emphasizes the importance of collaboration, market expertise, and clear communication in achieving favorable outcomes for all parties involved.
Contact M Square Commercial for Commercial Real Estate Solutions
Are you ready to explore opportunities for buying or selling commercial land? M Square Commercial specializes in creating value through strategic property sales and investments nationwide. Contact Managing Broker Brittany Megrath, CCIM, to learn more.
The post Commercial Land Sale in Conroe, TX: Taco Veloz Expands with Retail Acquisition first appeared on M Square Commercial.
The post [#item_title] first appeared on M Square Commercial.