HOUSTON – (Realty News Report) – The 500-acre Moran Ranch, located along Interstate 45 in the Willis area north of Houston, has been sold to developers as the Houston metropolitan area continues expanding into outer suburban territories.
The buyer, MRSS Partners Ltd., is a partnership between Houston-based Satya Inc. and Stoltz Partners of Alpharetta, Georgia. They purchased the property from the Moran family.
The ranch sits on the east side of I-45, just south of FM 1097 and adjacent to the new Woodlands Hills community.
Of the total acreage, 37 acres at the FM 1097 intersection have already been sold to Fidelis Realty Partners for grocery-anchored retail development. Additionally, a home builder has contracted to buy 237 acres, according to the developers; they declined to identify the builder.
Willis has become part of the region’s northward growth pattern. Located about 50 miles north of downtown Houston, the city—founded around 1870—had a population near 6,400 in 2017 but has been growing significantly as suburban development advances.
The Moran Ranch property lies within an Opportunity Zone and falls inside the extraterritorial jurisdictions of both Willis and Conroe, providing potential incentives and planning considerations for future development.
Wade Nelson of The Nelson Co. represented both buyer and seller in the transaction. Todd Edmonds of Colliers International also played a role in the deal, which reportedly drew strong investor interest.
Willis sits at an elevation of about 381 feet, and the purchased land features rolling topography favorable for a mix of residential and commercial uses.
Oct. 17, 2019 Realty News Report Copyright 2019
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