McCord Development announces 173-acre sale to FMC Technologies at Generation Park

HOUSTON, Jan. 3, 2013 /PRNewswire/ -- Today Ryan McCord, President of McCord Development, Inc., announced the first major land sale at Generation Park, the company's 4,000-acre master planned development on the northeast corner of Beltway 8 / Sam Houston Tollway.

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FMC Technologies, Inc., (NYSE:FTI) a leading global provider of technology solutions for the energy industry, purchased 173 acres in Generation Park West. The parcel has prime beltway frontage and ample room for a variety of uses for the company.

"We couldn't be more pleased with FMC Technologies' decision to purchase at Generation Park," says McCord. "They put in extensive due diligence during this process and when they were done they came to the same conclusions we did when we first envisioned the park – it's a location with great access to people, transportation hubs, and a superior quality of life."

Generation Park is ideally located in the new growth corridor of North America's most thriving market, Houston, Texas. The meticulously planned enterprise park promises to be Houston's most significant commercial project since the development of The Woodlands more than 30 years ago.

"When we evaluated strategic locations in Houston, it became clear that Generation Park was best suited to meet our projected needs," said Bob Potter, President of FMC Technologies, Inc.

With a completed Master Plan, Foreign Trade Zone Status, and secured entitlements, Generation Park is shovel-ready at a time when Houston's economy is stronger than ever.

"FMC Technologies is the perfect match for Generation Park," said McCord. "They are innovative, growing and are looking for even more ways to deliver value. Our shared goal is to make Generation Park a strategic advantage for them." 

McCord Development is in discussions with several other Fortune 500 companies that are interested in parcels in Phase 1.  Phase 1 includes frontage corporate office locations on the east and west sides of Beltway 8, as well as industrial, medical, and rail-served areas in the largest new foreign trade zone in Harris County.    

"With the amount of activity we are currently having, 2013 is going to be a very exciting year at Generation Park," said McCord.

McCord Development, Inc. is a Houston-based opportunistic real estate company with a longstanding track record of creating substantial value through the acquisition, development, and management of office, industrial, land, single family and multifamily assets. Since 1973, McCord has acquired or developed over $2B in successful projects across the United States.

Generation Park is a 4,000-acre mixed-use master planned enterprise park in Houston, Texas. Located on the northeast corner of Beltway 8/Sam Houston Tollway, the park will be an entirely new business destination with more than 37 million square feet to be developed. The park features more than 2.5 miles of beltway frontage, four beltway interchanges, over 21 miles of major thoroughfares and easy access to all main transportation corridors in Houston. For more information, please visit generationpark.com.

SOURCE McCord Development, Inc.