Colliers Facilitates Sale of 347.69 Undeveloped Acres in Waller County, Texas

Colliers is pleased to announce the sale of 347.69 undeveloped acres located on Riley Road near FM 1774 in Waller County, TX. The buyer, Ersa Grae Corporation, was represented by James KadlickChris Hutcheson and Harrison Kane of Colliers.

“We have been trying to add more positions in the rapidly growing Waller County market, specifically the Magnolia submarket. We were excited when this opportunity presented itself,” said Reza Ebrahimi of Ersa Grae Corporation. “We believe we will bring value to the Magnolia area and school district with another high-quality master planned community. In partnership with Avanti Properties Group, we plan to develop the site with the same quality as our other subdivisions, which we are known for.”

The ±347 acre property is located within the Waller Independent School District in Waller County, 4.5 miles northwest of Magnolia.

“This tract, strategically located off Riley Rd and FM 1774, was ideal for a single family development,” said James Kadlick of Colliers. “Ersa Grae Corporation did an exceptional job navigating the entitlement process, allowing them to close and bring new homes to the area. While many commercial real estate sectors have slowed, the Land Advisory Team at Colliers has seen single-family residential development tracts remain very active with strong demand.”

Ersa Grae Corporation is a diversified real estate development and management company based in Houston, Texas. The team of experienced professionals has been active since 1977 in residential, retail and office markets in several states. Ersa Grae is the managing partner and developer of several master planned communities in Houston including Sunset Grove, Silver Ranch, Fieldstone, StoneCreek Estates, Falcon Ranch and the Copper Grove communities. From a vision of planning, market knowledge, and adaptability, Ersa Grae has shown an ability to develop efficiently while maintaining first class quality in each of their communities. Ersa Grae, as managing partner, has also purchased or built over 1,000,000 square feet of retail centers with 500,000 square feet currently owned and managed.

About Colliers 

Colliers is a leading diversified professional services and investment management company. With operations in 68 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $96 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at, X @Colliers or LinkedIn.