Skanska invests in land in Texas for $27 million

Press release 8/5/2020 8:00 AM EST

Skanska has acquired about 11,500 square meters of land in Houston, Texas. The seller is Houston Westmont LP. The land acquisition amounts to $27 million.

Located in the Montrose neighborhood of Houston, in between Midtown and River Oaks, Skanska plans to develop a mixed-use project which could consist of multi-family, retail, and office tower for the local community. The project will target LEED® Platinum certification.

Since 2009, Skanska USA Commercial Development has invested more than USD 2 billion in office and multi-family projects, and has developed office headquarters for tenants including, Waste Management, Bank of America, Brooks Sports, PricewaterhouseCoopers and Tommy Bahama.