Christopher D. Winters and Coy Davidson, both of Colliers International's Houston office, negotiated the acquisition on the buyer's behalf. James Bell of Marcus & Millichap's Houston team, represented the seller, Boulevard BB Venture Ltd. The fully occupied building carried an asking price of slightly more than $1.7 million.
Winters tells GlobeSt.com that Visionary Investors is a prominent investor in the Clear Lake area and owns the adjacent retail center along the primary artery. Winters says the shopping center at 1600 Clear Lake Blvd. is beautifully designed, well located and gave the investment group control of a street corner. It is leased to Blockbuster, Village Pizza, a coffee shop and a beauty salon.
Winters says the buyer was looking to add to its retail portfolio and it just made sense to take control of its next door neighbor when it came to market. Seller Boulevard BB Venture developed the property.
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