Avera Announces Acquisition of 369 Acres Near Port of Houston
HOUSTON – (December 13, 2017) – Avera, a commercial real estate development, construction, and investment firm is announcing the acquisition of 369 acres from PPG Industries.
The site is one of the largest remaining parcels of land in the Port of Houston area, and is comprised of two tracts. The first is 235 acres, located on the west side of Bay Area Blvd. The second is 134 acres, located on the east side of Bay Area Blvd.
Avera has sold 235 acres on the west side of the tract to Beazer Homes, which will be used to develop a master-planned community and large multifamily project. Avera will retain 134 acres, which will be available for commercial, retail, and light industrial use.
“The east side of this tract will offer a variety of uses, and its’ strategic location will be advantageous as we look to create value across the street from Beazer Homes. We are very excited about this project and look forward to working with the City of La Porte to building a meaningful development that will undoubtedly be of great benefit to the community,” said John Nicholson, Executive Vice President of Development at AVERA Companies.
AVERA Companies is a Houston-based, fully integrated, partnership driven development, construction and investment firm that is dedicated to providing the highest quality real estate assets for clients and partners through innovation, value creation and integrity. For more information, visit averacompanies.com or call 713-783-9600.