Elizabeth Bowman in the Houston office of CB Richard Ellis Inc. represented the buyer, KSF Holdings. Bowman tells GlobeSt.com that the plan is to build a 22,000-sf shopping center on the land. She says the center's design and a construction timeline have yet to be finalized.
Bowman says frontage along a state highway and the city's explosive commercial and residential growth were the deal-makers for the purchase from seller of record, McHard 288 Ltd. of Houston. Gloria Chiu of the Real Estate Experts of Houston represented the seller. According Brazoria County Appraisal District, the acreage is part of a 12-acre tract assessed at $22,825 an acre.
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