Dr. Reagan Carroll, who was working as an associate in a North Houston practice, will move into 1201 Lake Woodlands Dr. this month, says Doug Morrow, a vice president with Colliers International's Houston office. Morrow represented Carroll in the transaction while Nelson Udstuen of Houston-based Axis Property Advisors negotiated for mall owner, Chicago-based General Growth Properties Inc.
Morrow tells GlobeSt.com that Carroll was looking for high-traffic area, but not strip center retail exposure. "He wanted a little bit more of a professional atmosphere," Morrow says, adding the mall offered the best foot traffic out of "three or four good options" and a convenient location to residential neighborhoods.
The Woodlands Mall totals 1.3 million sf, including a 150,000-sf office and retail expansion completed last year. The office component, advertised for $24 per sf, is 55% occupied.
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