Vista Acquires Development Sites
Vista Greenhouse, Ltd., a real-estate investment partnership sponsored by The Vista Companies, has acquired a 2.5 acre tract at the intersection of Greenhouse and Park Row in Houston, for the development of a 26,000 sq. ft. specialty retail center to be known as The Plazas at Greenhouse. Construction is scheduled to begin in January, 2019, with Tribble & Stevens acting as the General Contractor and construction loan financing being provided by James Coleman with Allegiance Bank. Closing was handled by Lesley Mann of Charter Title.
The Vista Companies have acquired a 6.9 acre tract in West Ten Business Park, a 470 acre master-planned business park, at the intersection of I-10 & Cane Island Parkway, in Katy for future development. Although development plans were not finalized at the time of acquisition, according to Brent Mann, Executive Vice President of Vista Equities Group, “with the Cane Island Parkway interchange providing immediate access to I-10, and with major companies such as Igloo, Med-Line, Rooms To Go, Amazon, and Bel Furniture located in, or in close proximity to West Ten, we feel the future development potential for this site is extremely good”. Acquisition financing for the property was provided by Anna Pawlik at Frost Bank with closing at Stewart Title Company.