Davis says his company had bought the land four months ago from Friedkin Cos. and subsequently has sold it to Sears. Davis had represented his company in the deal while Dean Lane of Boyd Page & Associates has acted on Sears' behalf.
Davis says the land is located in an established and strong retail area. It is located near a Home Depot and adjacent to an under-construction Sam's Club, a subsidiary of Wal-Mart. According to Davis, the retail area east of Beltway 8 on Interstate 10 is considered a stable retail environment while land fronting Interstate 10 west of the Beltway begins to soften from a retail perspective until it reaches Katy and the Katy Mills shopping areas.
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