The 19-year-old center has a Grandy's restaurant as one of itstenants. Eldridge Land LLC of Houston purchased the building in atransaction structured by Gus Lagos and Paula Foster, both with theHouston office of Grubb & Ellis Co. The brokers could not bereached by press time for comment.
According to Harris County Appraisal District, the selleracquired the holding, situated on less than an acre, in 1996. Its2002 assessment is $361,140.
Small centers fared relatively well this year unlike largerdevelopments, which were forced to bounce back from Albertsonsshutting down 43 anchor stores in the Houston area, said O'Connor& Associates in its Q3 retail report. Strip centers, the sizeof the Uvalde Road center, absorbed 1,720 sf citywide through thethird quarter and were maintaining an occupancy average of 88%.
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