Silvestri Investments, a division of Blossom Development in Houston, bought a 91,360-sf box in Alvin while Clearview Investments Ltd. of Arlington, TX picked up a 121,122-sf building in Lufkin, about 100 miles northeast of Houston. The duet traded in a triple sale, which included a 129,768-sf property in Germantown, TN, brokered by Houston brokers Donna Kolius, senior vice president, and Jim Tipps, first vice president with CB Richard Ellis Inc.

Silvestri Investments is gaming out a retail redevelopment of the 22-year-old building at 1701 Fairway Dr. Wal-Mart vacated the six-acre property in May, putting it on the market for $981,000, according to Wal-Mart Realty spokeswoman. She says the trio of buyers got nods based upon "price, earnest money, due diligence time required by buyer, closing terms and use."

Clearview Investments' new purchase at 2215 S. First St. came to market in July 2002 when Wal-Mart relocated to a nearby "Supercenter" at 2500 Daniel McCall Dr. The property was tagged at $5.8 million. The 12-year building, situated on 17 acres, was fully leased at sale time to Hobby Lobby and Belk Department store. Hobby Lobby's lease, which kicked in last June, runs through 2013; Belk's lease went into effect last September and is good through 2018, the brokers say.