Edward F. Page and Culver G. Stedman of Boyd Page in Houstonrepresented the seller in the deal. Stedman tells GlobeSt.com thatSpring Cypress LP plans to build an approximate 250,000-sf shoppingcenter on the property. Stedman says the property was appealing tothe seller because it is located in the high-income, high-homegrowth area of northwest Houston.

Located near the international headquarters for Compaq Corp, thenorthwest Houston submarket has blossomed in recent years with newretail, hotels and a regional hospital. In May, ground broke on aEuropean-style mixed use development that features a shoppingcenter, office space and six-story, 171-room Hilton hotel.

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