Houston Sells Prime Real Estate Near Buffalo Bayou

Alliance purchased the prime parcel, located at Gillette St. and West Dallas St. just south of Allen Pkwy., from the city for $39.9 million.

Cushman & Wakefield of Texas Inc. represented the buyers, Alliance and its joint venture partner, Washington, D.C.-based The Carlyle Group.

The deal took almost a year to close due to environmental remediation work that had to be done on the site, which formerly housed a city solid waste incinerator.