Hines, the international real estate firm, has acquired 78 acres in Wolff Companies’ 564-acre, mixed-use Beacon Hill development along highway U.S. 290 in Waller, Texas for a build-to-suit project. NAI Partners’ John Simons, Gray Gilbert and Chris Haro represented Wolff Companies in the transaction, which is the first industrial sale in the development. Wolff Companies previously sold 270 acres to Long Lake Ltd. to develop a residential subdivision in the northern section of the master-planned community. The sale price was undisclosed.

Located west of Beacon Hill Boulevard and fronting U.S. 290, the Hines project can fit up to 1,300,000 square feet of distribution, manufacturing, or logistics space with flexibility on the ultimate site plan. The project will feature industry-leading building characteristics which are consistent with the Hines’ brand and with the integrity and quality in the Beacon Hill development.

“Beacon Hill is an immediately actionable, large-scale industrial site with utilities in place today thanks to the foresight and work done by Wolff Companies and The City of Waller. We are thrilled to partner with them and build on the success of an established, master-planned development with a premier industrial development. The project is ideally positioned for a build-to-suit tenant due to both location and the business-friendly environment of Waller,” said Laura Denkler, managing director at Hines. The project is being marketed by NAI.

Located directly along the newly reconstructed U.S. 290 route in Waller County, Beacon Hill provides exceptional visibility as well as connectivity to Houston, Brenham, College Station and Austin. As Houston continues its rapid westward growth, Waller County has become a hub for global manufacturing, logistics, oil and gas service companies and aviation companies. Major employers, from global retailers to energy and manufacturing companies have established locations in Waller because of its favorable business environment, excellent school district and its large and increasing supply of both affordable and premium housing options.

“Given its proven record of quality development, we were very pleased for Wolff Companies to make a significant investment in the Waller area with its Beacon Hill master-planned community,” said Danny L. Marburger, City of Waller Mayor. “Today’s announcement will further translate into continued premium quality development for the entire area, thanks the caliber of Hines’ office, housing, hospitality, industrial and retail projects. We see Beacon Hill as destined to become the premier live and work environment in the 290 Corridor.”

“The City of Waller has become one of the most desirable locations for industrial projects in the Greater Houston area,” said John Isom, Director, City of Waller TX Economic Development Corporation. “Just in 2021, six manufacturing companies selected Waller for their next location. Businesses relocating here can draw their workforce from a population of 1.4 million living within a 30-minute commute to the City of Waller. Furthermore, Waller ISD’s strong academic program also emphasizes career- and technology-focused curriculum, offering several industry certifications to students by the time they graduate from high school. Combined with 21,000 new housing units projected for the Waller ISD area by 2028, we anticipate a significant influx of highly qualified workforce to the district.

Beacon Hill offers shovel-ready sites for immediate development, with potential uses ranging from light industrial and office to retail, multifamily and hospitality. As with other Wolff Companies projects, Beacon Hill has been master-planned with development, architectural and landscaping guidelines and deed restrictions in place to ensure long-term quality and value. The development already features storm water detention and drainage, trunk water lines, trunk sanitary sewer and lift station as well as electrical lines and residential streets. Recently completed Beacon Hill Boulevard, the community’s main thoroughfare, connects Highway U.S. 290 and Owens Road on the northern side of the property. Those amenities represent an investment exceeding $16 million in the property to date. Future improvements include a new exit ramp and frontage road which will create direct access from Highway U.S. 290 to Beacon Hill by the end of 2022.

“We’re thrilled to welcome Hines, one of the most respected real estate developers in the world, to Beacon Hill and are excited to build on our longstanding relationship,” said David S. Wolff, Wolff Companies’ President and Chairman. “Hines’ investment in Beacon Hill gives testament to the strengths of Waller County and the growing momentum of the northwest market and also underscores the value of a fully developed site that allows buyers to focus on building and delivering their projects with expediency in the current growth market.”

The relationship between Hines and Wolff Companies extends back over 40 years. In 1978, Hines purchased 75 acres at I-10 and Mason Rd from Wolff Companies, to develop a 500,000-square-foot build-to-suit project for Western Electric, the manufacturing subsidiary of AT&T. At the time, the building was the largest industrial development to be built in Houston. It now serves as headquarters for Academy Sports + Outdoors.