The buyer of record is I-10 Hayden Ltd. The project calls for aretail center and several restaurant pads. And, the plan is to beopening doors in fourth quarter 2002.

Ewing King, Scot Luther and Jim Peterson of Houston's Read, Kingand Luther represented the buyer. Monte L. Tinkham and BrendanLynch, both senior vice presidents with CB Richard Ellis Inc. inHouston, handled talks for KBM Investments NV, a private overseasinvestment group.

Luther tells GlobeSt.com that the area generates $250 millionannually in retail sales. The acreage is located east of Houstonnear Jacinto City, where big boxes are cropping up regularly. Theproposed development will be positioned between Wal-Mart and Sam'sClub and close to Home Depot, Circuit City and sundry otherretailers. There is, says Luther, a lot of pent-up demand in themarket that he believes is underserved by retailers.