M.D. Anderson to sell land near medical centerM.D. Anderson to sell land near medical centerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=74222013-05-13T09:09:00Z2013-05-10T00:00:00Z

HOUSTON - M.D. Anderson Cancer Center is set to sell about two acres near the Texas Medical Center for about $3.8 million.

The center will sell about 1.24 acres at the northeast corner of Bertner Ave. and Braeswood Blvd. for about $3.1 million to Texas Medical Center Central Heating and Cooling Services Corp. The land was appraised for $3.4 million and $2.1 million on two different occasions last year.

M.D. Anderson will also sell about 0.47 acres at the northeast corner of Bertner Ave. and Old Spanish Trail for $513,000 to Harris County. The land was appraised at $513,000 earlier this year.

M.D. Anderson purchased 34.77 acres on the north side of I-10 between Eldridge and Park & Ride Dr. from Central Park West LP, an affiliate of Houston developer Wolff Cos. M.D. Anderson paid $16.5 million to the seller with a post-closing agreement whereby Wolff Cos. is required to complete certain infrastructure work by no later than Sept. 30, 2014.

At that time, M. D. Anderson would then make a second payment of about $17.6 million if all contingencies are met. Land values in the area range between $25 and $35 per sf.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/news/2013/05/09/md-anderson-to-sell-two-acres-near-tmc.htmlRead more at {Source}

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