Sugar Land Capital Acquires Development Site In Magnolia For $1.1 Million With CBRE Brokers

The property involved in this transaction is a development site located at 311 Magnolia Business Park Drive in Magnolia. It was sold for $1,100,000, covering an area of 217,316 square feet, resulting in a price per square foot of $5.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,100,000
• Address: 311 Magnolia Business Park Drive
• Market: Magnolia
• Square Footage: 217,316
• Price Per Square Foot: $5
• Buyer: Saad Khalid, Zeshaan Samani, Amir Qureshi, Mohammed Kurjee & Naved Dattu - Sugar Land Capital
• Brokers: James Stark & Fatima Ghayour - CBRE

The buyers, representing Sugar Land Capital, have expressed their commitment to delivering class-A multi-tenant industrial developments in Texas's high-growth corridors, as highlighted by their plans for an 89,000 square foot project in the West Magnolia area.