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HOUSTON-Spring Cypress LP, an entity of Chicago-based Kemco Developers Ltd., has purchased nearly 24 acres at the southwest corner of Texas 249 and Spring Cypress Road from Douglas B. Marshall Jr. and Legacy Trust Co.

Edward F. Page and Culver G. Stedman of Boyd Page in Houston represented the seller in the deal. Stedman tells GlobeSt.com that Spring Cypress LP plans to build an approximate 250,000-sf shopping center on the property. Stedman says the property was appealing to the seller because it is located in the high-income, high-home growth area of northwest Houston.

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

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