Spring, Texas - May 10, 2024 - Newcor Commercial Real Estate proudly announces the successful acquisition of a 1-acre parcel at 500 Rayford Road, Spring, Texas. David Alexander and Josh Cheatham of Newcor, represented the buyer, Shree Rang Krupa of Texas, LLC, in this strategic transaction. The land was sold by Woodlands Warehouse, LLC., with representation from Gus Lagos of Marcus & Millichap.

Shree Rang Krupa of Texas, LLC, under the ownership of esteemed hotel developer Kenny Rama, plans to develop the site into a 60-room Studio 6-Extended Stay hotel. This new development aims to cater to the growing demand for extended stay accommodations in the region, offering both comfort and convenience to its future guests.

“We are thrilled to support Shree Rang Krupa in bringing a new lodging option to Spring, Texas. This development not only meets the increasing demand for extended stay facilities but also contributes to the local economy through job creation and tourism,” said David Alexander.

The acquisition of this land marks a significant step in meeting the area’s lodging needs, prompted by the ongoing growth in both business and leisure travel in North Houston.

Construction is expected to commence in the upcoming months, with an anticipated opening date set for late Q1 2026.