Please visit this link for more info and to access the Offering Memorandum & Due Diligence information: https://www.crexi.com/properties/173971

Colliers International South Florida is pleased to offer the opportunity to acquire a 100% fee simple interest in Avocet, a 146-acre parcel planned and approved for 390 sites between the Gulf of Mexico and Highway 87 in Crystal Beach, Texas.

Located forty miles south of Houston’s suburbs and sixteen miles northeast of Galveston, Avocet is a turn-key land development with 2,600 feet of beach frontage along the Gulf of Mexico.

Existing Improvements

The western 74 acres (Phase I) has infrastructure (roads, sewer, and water) for 177 developed single family lots (19 lots sold) with typical dimensions of 65 feet by 100 feet
The eastern 74 acres (Phase II) is planned, approved, and platted for an additional 235 single family lots (3 lots sold) with typical dimensions of 65 feet by 100 feet
Additional improvements include a residential sales office located on the property

Ranked as one of the Best Family Beach Vacations in the U.S. by U.S. News and World Report, Galveston Island and the Bolivar Peninsula are major vacation destinations for the 7.1 million residents in the Houston MSA and 29.4 million Texas residents. Galveston is a historic part of the Texas coastline that contains a large variety of popular attractions, from landmarks and historic buildings to modern recreational amenities.

Galveston Island is one of the oldest tourist destinations in Texas and includes the fourth busiest cruise ports in the U.S. Visitors come to Galveston for 32 miles of local beaches, historic structures, southern charm, natural beauty, and wildlife. Events hosted by Galveston such as the Lone Star Rally and Mardi Gras are also a draw.

For every busy tourist destination like Galveston, there is a peaceful resort town that is a short commute away. In Florida, Aventura is a quiet destination just north of popular South Beach. In California, Malibu is just west of popular Venice Beach. In South Carolina, Hilton Head is a short drive from Charleston. Even in Galveston, the larger and highly rated RV parks are distant from bustling Galveston.

In contrast to bustling Galveston, Crystal Beach is a seven-mile stretch in the middle of the Bolivar Peninsula that provides a peaceful destination as guests enjoy carefree living focused on recreation. So with only six highly rated RV Parks (totaling 769 full hook-up sites) in Galveston, coupled with no RV Resorts on the Bolivar Peninsula, the opportunity to develop Avocet in a 348-site, beachfront, RV resort is a compelling investment.

Investment Highlights

• Houston has one of the strongest economies with a population of 7.1 million, 3.4 million jobs and unemployment rate of 4.4%.

• Galveston is a highly ranked vacation destination that attracted nearly seven million visitors in 2017.

• Galveston operates year round in catering to snowbirds in the winter, summer beach vacationers primarily from Texas and RV rally groups.

• With a total population of 29.4 million, Texas has the second highest number of RV registrations (680,000+) in the United States.

• The Bolivar Peninsula and Crystal Beach offer a carefree lifestyle that attract snowbirds and summer guests.

• Galveston is underserved RV travelers as evidenced by high occupancies and monthly rental rates among the highly rated RV parks.

• In addition, the Bolivar Peninsula lacks upscale RV facilities comparable to the highly rated parks in Galveston.

• Avocet has 2,600 feet of beach frontage (1/2-mile) along the Gulf of Mexico.

• Avocet is ready for immediate development for a 348-site RV park.

• Phase One contains 177 residential lots improved with streets, water, wastewater, and storm sewer.

• Phase Two is platted and approved for 216 residential lots, and has plans in place for 169 RV sites.

Contact:
mike.nissley@colliers.com

561.479.1588

865.456.4047

Due Diligence Website:
https://www.crexi.com/properties/173971