Home Page

Business

Columns

Letters

School/Sports

Social

Starrings

Obituaries

Crime

Classifieds

Food/movies

Important #s

Other News

Add an event

 

 

Commercial real estate developer takes business personally

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."

elitefloorsexpo.com

 

Ad Rates

Feedback

Corrections

User Agreement

Privacy Stmt

About Us


   Copyright © 2000 by FortBendstar.com.  All rights reserved. 
   Last Update:  August 28, 2004