Hot Land Market Spurs Streetwise To Open Land Division
As some sectors weaken across Houston, our land market is taking off. That’s why Ed Page's Streetwise Retail Advisors has expanded into the land market, creating Streetwise Land Advisors to sell and purchase sites for investors and developers. Streetwise Land Advisors managing partner Ryan Sweeney (whom we snapped in his office this week) tells us the Houston land market is surprisingly competitive. Despite the oil slump, the Houston land market hasn't experienced price decreases, and multiple parties are going after the same properties.
Ryan tells us land development and purchasing has become less speculative and more user-driven. As a result, most of the buying activity is in quality markets like along the Inner Loop, Grand Parkway and the Port of Houston. Streetwise Land only has six months under its belt but has many high-profile listings and projects underway, including a 10-acre hard corner (Clay and Peak) in Katy and 16 acres (pictured) on the newly opened Grand Parkway near ExxonMobil.
