Conroe has a population of just over 60,000 and is the seat of Montgomery County. Although it is relatively small by city standards, its close proximity to Houston and governmental importance means that it is benefiting immensely from the growth in the real estate industry (and other businesses) within the state of Texas. Below, we have several important business stories involving Conroe, which show that it is a city with a bright future.
Royal Purple LLC, the Porter-based synthetic lubricant manufacturer, has signed a title sponsorship deal which means Conroe’s Three Palms Action Sports Park will now bear the name of its sponsor. It is hoped that Royal Purple funding will secure major sporting events in the stadium to help the city grow. For example, the Royal Purple Pro Motocross Championship 2013 will be formed using the company’s money. It promises to be a grand event, as it is being held in concert with the yearly U.S Dealer’s Challenge and the winner of the race receives a $10,000 professional purse.
Emil Shebelbon, owner of the facility, said that developing relationships with industry leaders is essential for the park’s success and he considers Royal Purple to be right at the top of their field. He also hopes to add a sports bar and BMX track to his 255-acre location.
Praxis Capital LLC is a California-based organization looking to expand into Texas and they have just purchased a 140-unit multifamily property in the city of Conroe for a price that has not been disclosed. Praxis has added Whispering Oaks to its collection of property in Texas. Indeed, the company is so enamored by Texas that it has set up an office within the state.
The fact that Praxis chose a property in Conroe after looking at hundreds of other options speaks volumes. It also plans to acquire many more offices in the major Texas metropolitan areas. According to the company’s managing director, Brian Burke, Praxis sees the Texan economy as stable and also believes that the Houston area is experiencing major job growth. The multifamily property purchased by the company ranges from one- to four-bedroom units with the cheapest unit available for $599 per month.
Johnson Development Corp. is about to purchase a 2,083-acre site in North Houston that has served as the Boy Scouts of America Camp Strake for a number of years. It is believed that the property will change hands at the end of 2013 and represents a major coup for Johnson Development as it is one of the largest parcels of land available in the area. It is less than 10 miles away from where the new Exxon Mobil Corp. corporate campus is being developed. The company does not plan to announce its intentions regarding the land until the sale has been completed.
As you can plainly see, Conroe is a city on the move and large national companies understand this, which is why they are purchasing land within the area.
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