The CB Richard Ells Inc. Houston team of Scott Davis, associate, and Simmi Jaggi Basra, vice president, represented the buyer, H.E. Butt Grocery Co. of San Antonio. Davis tells GlobeSt.com that finding a "good retail site of that size in that market was difficult." The tract is near Interstate 45 in north Houston in an area with a warehouse development to the north, a traders fair to the east and housing to the west.
In fact, the tract was never on the market, according to Davis. The brokers contacted the owner, North Shepherd Business Center Associates, as part of the site search. Harris County assesses the parcel at $541,999. Jay Stubbs with Houston's Amega Corp. represented the seller.
H-E-B currently has 42 stores in the Houston metro area and 300 in Texas, Louisiana and Mexico. Davis says the plan is to build a conventional store format, which H-E-B brought to Houston about 18 months ago as a follow up to the H-E-B Pantry line.
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