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The Johnson Development Corp., Fidelis Realty Partners Finalize Sale of Prized Retail Tract Within Former Camp Strake Property
September 25, 2014
HOUSTON, TX – Houston-based Fidelis Realty Partners has completed its acquisition of a 112-acre tract of prime retail property at the former Camp Strake site where it plans to develop a regional shopping, dining and entertainment destination spanning 750,000 square feet.
The highly visible tract at the southwest corner of Loop 336 and I-45 in the City of Conroe, and just north of The Woodlands, was purchased from The Johnson Development Corp. in what is the first major sale of the 2,046-acre mixed-use, master-planned development.
“The opportunity to create a regional shopping experience at such a prominent location was very appealing,” notes Lynn Davis, principal and chief marketing officer of Fidelis Realty Partners. “We’re looking forward to working with Johnson Development on this project.”
Scheduled to open by early 2017, the regional retail destination marks the largest endeavor to date for Fidelis Realty Partners. Construction is expected to begin in late 2016.
The company’s current portfolio of roughly 50 assets consists of approximately seven million square feet, including properties in Texas, Louisiana and New Mexico. Fidelis currently has more than one million square feet under acquisition, development or pre-development.
The Johnson Development Corp., one of the nation’s preeminent land developers, purchased the former Camp Strake site in 2013.
“This project will provide a tremendous economic boost for the area,” says City of Conroe Mayor Webb Melder. “We are excited to be working with Johnson Development and its development partners.”
Plans also call for an open-air, mixed-use town center adjacent to the regional shopping area under development by Fidelis, according to Doug Goff, Chief Operating Officer for The Johnson Development Corp.
“We’re taking a look at a number of options right now, all with the goal of creating a premier regional destination amidst a lush, natural setting,” he says.
A full range of residential options, from single-family homes to urban living designs, also are being considered.
About Johnson Development
The Johnson Development Corp. is a Houston-based, award-winning residential and commercial land development company. For more than three decades, the company has set the standard for successful master-planned communities in Houston, Atlanta and other markets around the country. Its impressive collection of Houston-area communities includes Riverstone, Sienna Plantation, Cross Creek Ranch, Woodforest, Fall Creek, Tuscan Lakes, Edgewater, Harmony, Willow Creek Farms, Silverlake, Imperial Sugar Land and the former Camp Strake property in Montgomery County. Johnson Development’s communities in Atlanta include Towne Lake, BridgeMill and Lake Arrowhead. The company also provides outsourced development services for property owners, homebuilders and other parties on a fee basis to help realize the potential of their land positions.
About Fidelis Realty Partners
Fidelis Realty Partners is a full service investment, development and management firm focused on retail real estate across south Texas and neighboring states. The firm was formed by Alan Hassenflu and Lynn Davis upon their departure from Trammell Crow Company in 2003. Subsequently, they were joined by in-house counsel Glenn Airola, who collectively form the leadership team. Fidelis Realty Partners currently owns fifty plus operating properties totaling over 6 million square feet and over 300 acres of retail development land across eight tracts. In addition, Fidelis manages properties totaling 1.5 million square feet on behalf of its partners.