Edward F. Page and Culver G. Stedman of Boyd Page in Houston represented the seller in the deal. Stedman tells GlobeSt.com that Spring Cypress LP plans to build an approximate 250,000-sf shopping center on the property. Stedman says the property was appealing to the seller because it is located in the high-income, high-home growth area of northwest Houston.
Located near the international headquarters for Compaq Corp, the northwest Houston submarket has blossomed in recent years with new retail, hotels and a regional hospital. In May, ground broke on a European-style mixed use development that features a shopping center, office space and six-story, 171-room Hilton hotel.
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