A collaboration between longtime friends has led to the acquisition of a sought-after piece of land in Uptown Houston, setting the stage for a mixed-use development.
John Goff, chairman of Fort Worth-based Crescent Real Estate, teamed up with prominent local businessmen Doug Schnitzer and Leslie Doggett to buy 6.3 acres at the southwest corner of Post Oak Boulevard and the BLVD Place development, Bisnow reported. The price was not disclosed.
The venture acquired the site from Houston-based Wulfe & Company, the developer behind BLVD Place, a mixed-use hub with 286,000 square feet of retail and office space. Its tenants include Whole Foods, Frost Bank, Newmark, North Italia and Annie Cafe.
Transwestern’s Eric Anderson and Jeff G. Peden represented the buyers, while JLL brokers Davis Adams, Graham Horton and Brandon Clarke represented the seller.
The buyers had been eyeing the parcel for years due to its prime location in the buzzing Uptown District.
While details of a future development have not been revealed, Goff described it as having “office, hospitality, residential and retail assets.” Schnitzer envisions “luxury commercial and residential properties.” The project will have access from Post Oak Boulevard, BLVD Place, Post Oak Lane and Ambassador Way, the outlet reported.
Doggett is the CEO and owner of Doggett Industries, a billion-dollar construction equipment supplier. Schnitzer is the chairman and CEO of Senterra, a holding company with an extensive portfolio that includes luxury auto dealerships, commercial and residential real estate assets and multiple operating companies.
Crescent, meanwhile, is behind several high-profile developments in North Texas. The firm has plans to add a luxury apartment tower to the Crescent, a mixed-use hub it developed in Uptown Dallas with 1.3 million square feet of hotel, retail, dining and office space. The firm is also adding an office tower to its Crescent Fort Worth, a similar mixed-use development that was delivered last year.
—Quinn Donoghue
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