CHALLENGE
The land team at ICO was engaged by a referral to help them find a warehouse or land deal on the westside of Houston. The buyer was planning on occupying a portion of the warehouse space or developing warehouse space as an owner/user. We quickly learned that the existing warehouse space was limited and not ideal. Not to mention the buyer’s timeline for the space requirement kept getting pushed out.
 
STRATEGY
After touring a few warehouses that simply wouldn’t work and adjusting to the buyer’s evolving timeline, it became clear that a land purchase would be the right move. We focused on a few listed parcels in the Spring Branch area but quickly realized most everything on the market was priced out of our client’s investment/development range. We started searching and networking for any potential off-market deals in the area.

RESULTS
Through calling on specific vacant properties, we connected with a local owner/user that had multiple lots and was looking to offload a couple to offset some existing debt. After a few short rounds of negotiating back and forth we quickly came to terms on 9614 Dalecrest. Now, our client is happily working with Weisser Engineering on the development plans for a mix use commercial complex. .