Updated Mar 6, 2025
Alexander Grene Development Acquires 24-Acre Development Site In League City From Grason Communities
League City Parkway
Building Size
1,045,440 SF
Asset Type
Development Site
Closing
Dec 1, 2024
About this deal
AI
A development site of 1,045,440 square feet located on League City Parkway in League City has been sold. The property, comprising a 24-acre parcel, is strategically positioned near the intersection of League City Parkway and TX-146.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not disclosed
- Address: League City Parkway
- Market: League City
- Buyer: Alexander Grene Development
- Seller: Grason Communities
- Buyer's Representative: Ryan DeGennaro - Partners Real Estate
- Seller's Representatives: James Brockway & Isaac Saldana - Brockway Commercial
Alexander Grene Development plans to transform the acquired site into Lilac Field, which will serve as a Class A mixed-use destination, focusing on culinary and entertainment offerings.
On the Map
Development Site
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Players
League City Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93