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THE WOODLANDS, TX-With plans of developing a 12,000-sf retail center, Everson Developments LLC has acquired 3.1 acres next to the existing 22,500-sf Research Forest Plaza.
Research Forest Plaza II will be located near the northwest corner of Research Forest Drive west of Six Pines Drive. The Woodlands Development Co. sold the acreage to Everson Developments, which has flipped a 1.4-acre parcel to Houston-based AmREIT. The REIT plans to develop a 7,000-sf freestanding retail building on the site. The building is 71% pre-leased to Buffalo's Southwest Cafe, a nationally franchised, casual dining restaurant.
Everson Developments plans to begin construction on Research Forest Plaza II in March with completion scheduled for May. Inline space is leasing for $21 per sf to $23 per sf triple net.
The Woodlands Development Co. was represented internally by Greg Jordan while Jeff Beard from the J. Beard Co. LLC represented Everson. The J. Beard Co. will handle leasing for Research Forest Plaza II.
Research Forest Plaza at 1500 Research Forest Dr. is opening this month. Tenants include Coldwell Banker United Realtors, Classic Pizza and Thai Ploy Restaurant.
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