27-May-08 9:15 AM CST

Wolff Companies Completes Multiple Land Transactions in Interwood Development

Wolff Companies, a long-time leader in Houston real estate investment and development, announces several land transactions in Interwood, a densely wooded 440-acre master-planned business park located at the intersection of Beltway 8 and John F. Kennedy Boulevard.

Schultz USA Inc. recently purchased 16 acres of land located on Interwood North Parkway, just east of Heathrow Forest Parkway. The property will serve as the company’s new North American headquarters and distribution center. The new project will consist of a 56,880 square foot building. Construction will begin this fall. Bob Berry and Jeff Venghaus with Staubach represented the buyer.

“Schulz desired to locate a site in North Houston that allowed the company to construct its own facility,” said Jeff Venghaus, Vice President for The Staubach Company. “Interwood was truly a great solution. The park is conveniently located to restaurants, hotels and other amenities and the property acquired provides the opportunity for Schulz to grow and expand.”

Additionally, CCIB, an affiliate of Austin-based Capital Commercial Investments has acquired a 12.5 acre site located between FM 525 and Interwood South Parkway from Essex Capital. The property will be used for light industrial development. Specific plans have not been announced. Mark Nicholas and Richard Quarles with Staubach represented the buyer. Marc Drumwright of Southwest Realty Advisors represented the seller.

One of the world’s leading providers of innovative high performance drilling fluid solutions and state-of-the-art drilling waste management services, Scomi Oiltools, has purchased 6.3 acres at the northeast corner of Interwood South Parkway and Heathrow Forest Parkway. Lucian Bukowski and Ryan Fuselier with Staubach represented the buyer.

Live Oak-Gottesman, an Austin-based investment builder, has purchased a site at the southwest corner of Interwood South Parkway and Heathrow Forest Parkway. The property is being developed for the U.S. Customs and Border Control Protection Services. Construction of the 35,000 square foot facility is expected to commence later this year.

“Nestled among towering pine and oak trees, Interwood’s convenient access to Beltway 8 and Bush Intercontinental Airport make it a desirable choice for companies seeking to purchase property,” said David W. Hightower, executive vice president and chief development officer for Wolff Companies. “Wolff Companies has only two remaining available sites in the Interwood development, and we have a lot of additional interest in the park. These two sites won’t be around much longer.”

Existing Interwood tenants and owners include ExxonMobil, Administaff, Coventry Health Care, Cameron, Averitt Express, U.S. Foodservice, United States Postal Service, FedEx and Prime Source.

For additional information on this release, please contact:

David Hightower

(713) 626-8050

Source: Wolff Companies

Website: http://www.wolffcompanies.com