When
Buddy Gray was looking for land to build his first Prestige
Car Wash, he never thought that his commercial real estate
developer would be such a great source of hope.
"The first piece of land we made an offer
on fell through," Gray said. "A lot of developers would have
just given up, but they were reassuring through the whole
process and said we would find a better piece of land. They
were so right. "
For Gray's real estate developer, Weaver,
Davis & Jacob Realty Group, a two-year old, full-service
commercial real estate development firm located in Sugar
Land, helping Gray buy the right piece of land required some
very creative thinking.
"We looked forever and finally found the
perfect piece of land in an even better location than the
first property. But it was just too large for him," recalls
Peter Jacob, principle of WDJ.
Gray purchased the 1.7 acre site, and
sold half of it to WDJ who is now developing a retail center
adjacent to Gray's site.
"This was a great opportunity for our
client, and we were just glad we were able to help," Jacob
said. "We were all focused on closing this deal and when
everyone involved works together, it becomes a 'win-win'."
Jacob confessed that a property deal like
this can be risky, but considering the firm's experience in
Fort Bend County, they felt it was a calculated risk.
Jacob added that Fort Bend County
continues to be one of the fastest growing communities in
the Houston Metro Area. And as the area grows, so have the
opportunities. In its two years in business, WDJ is
developing over $30 million in retail real estate"most of
which has been in Fort Bend County.
"The residential market's substantial
growth is fueling positive absorption of retail properties
in this area. When Kmart and Albertson's pulled out of the
Houston market, a number of landlords were left with
numerous property vacancies.
However, many of the 'Big Box' spaces
have either been sold or leased to other users. Vacant 'Big
Box' buildings can stigmatize an entire community, so this
is great news for local area businesses and residents,"
Jacob said.
The firm's three principals"Scott W.
Weaver, Nat H. Davis III and G. Peter Jacob"combine for
60-plus years in retail real estate experience which means
long-term relationships with key developers, brokers,
lenders and retailers alike.
"Our clients range from large 'Big-Box'
users to smaller entrepreneur-type retailers like Prestige,"
Jacob said. "We have relationships with CVS Drugs, Auto
Zone, Walgreen's, Ben & Jerry's Ice Cream, Jack in the Box,
HEB Grocery and many more. But we also have successful
relationships with smaller companies like Brooks Street BBQ,
Madras Restaurants, Ragin' Cajun, Skeeters and Safety
America."
Buddy Gray understands why so many
companies work with this smaller Sugar Land-based
development firm. "They wouldn't let us give up. They're
deal-makers. And the fact that they live in the area makes a
big difference because they know so many people who have
been so helpful to our business."