20 vacant acres next to Perkins Rowe hit the market at $6.7M

A 20-acre tract of vacant land adjacent to the Perkins Rowe development has been placed on the market for $6.7 million. The prime piece of commercially zoned real estate—located behind Fresh Market on Perkins Road, just off Bluebonnet Boulevard—was formerly owned by Perkins Rowe developer Tommy Spinosa but was taken back by the lender, First Bank and Trust, according to sources familiar with the transaction. Officials with First Bank and Trust were unavailable for comment; and the listing agent on the property, Deane Bryson of NAI/Latter and Blum, did not return calls seeking comment. But other local realtors say the property, with a listing price that amounts to $337,500 per acre, is in a high-demand area with some of the best demographics in the market. According to the property overview, the average household income is approximately $98,000 within a one-mile radius of the site, and nearly $250 million of medical expansion is taking place in the area. Check out the listing for yourself here. —Stephanie Riegel