Fidelis Realty Acquires 112-Acre Tract North of The Woodlands for New Shopping Center
- Oct 02, 2014
Houston-based Fidelis Realty Partners recently completed the acquisition of a 112-acre tract at the former Camp Strake, where it plans to develop a 750,000-square-foot shopping, dining and entertainment center.
The acquired tract is located north of The Woodlands, at the southwest corner of Loop 336 and I-45 in the city of Conroe. The asset was acquired from The Johnson Development Corp. and is part of a 2,046-acre mixed-use, master-planned project.
“The opportunity to create a regional shopping experience at such a prominent location was very appealing,” said Lynn Davis, principal & chief marketing officer of Fidelis Realty Partners. “We’re looking forward to working with Johnson Development on this project.”
“This project will provide a tremendous economic boost for the area,” added Conroe Mayor Webb Melder. “We are excited to be working with Johnson Development and its development partners.”
Comprising 40 professionals, Fidelis Realty Partners manages a portfolio of approximately 7 million square feet, of which 1 million is under acquisition, development or pre-development. The company’s footprint covers nine cities across three states, with the majority of assets located in the greater Houston metropolitan area.
With construction slated to begin in late 2016, the mixed-use center represents Fidelis Realty Partners’ biggest project. As CPE reported, The Woodlands is becoming more and more crowded with new, large-scale developments, which has shifted attention to the areas around it: In August 2014, Howard Hughes Corp. acquired 2,000 acres of land for a residential development just 13 miles north of The Woodlands. Similarly, The Toll Brothers recently announced plans for a 600-acre, master-planned development west of The Woodlands, along FM 2978.