HOUSTON—Clear Lake retail shopping center, the Shops at Clear Lake sold to a California-based investor for an undisclosed price.

The property, located in the Clear Lake Crossing development at the intersection of Clear Lake City Boulevard and State Hwy 3, was 100% occupied  at the time of the sale. Major tenants include Starbucks, Edible Arrangements, and Edward Jones & Co.

Clear Lake continues to be a stable submarket and at the end of 2013 occupancy in the Far Southeast retail properties climbed to 92.7% on par with the Houston average occupancy said CBRE in an end of year report.

The seller was CLCB, Ltd., a partnership affiliated with Houston-based Wile Interests, which developed the property. The owner was represented by Phil Sambazis and Alvin Mansour of the San Diego office of Marcus & Millichap.  The buyer was represented by John Clement of VenturePoint Commercial.