Bisnow Exclusive: Joe Moody Closes First Deal Under New Flag
Joe Moody, a member of one of Houston's biggest and busiest real estate families (shown here with his wife, Keri), is taking a big gamble, starting his own company. Black Flag Properties is kicking off with a project in Stafford that's already locked in tenants before breaking ground.
Just yesterday he closed on five acres in Stafford to construct Stafford Commerce Center, a 70k SF industrial building. The site is at the southwest corner of Stafford Boulevard and Stafford Center Drive. Quest Design and Fabrication/Quest Architectural Millwork signed a 10-year lease, which will begin on Feb. 1, 2017, for 51k SF to be its new HQ.
Joe tells us Black Flag Properties is deliberately small and humble, and as for what comes next, well, he’s firmly in wait-and-see mode. He predicts lots of acquisition opportunities in the coming months as Houston experiences the fallout of low oil prices.
