M.D. Anderson to sell land near medical center

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.

For the complete article, please go to:
https://www.recenter.tamu.edu/news/newstalk-texas?Item=7422