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HOUSTON-A CVS Pharmacy developer has bought about two acres in northwest Houston while another retail developer has grabbed four acres in the same quadrant.

Cedarwood Development, CVS’ builder in Houston, acquired a tract at the intersection of Texas 249 and Northpoint Boulevard from Williamsville, NY-based Eastbourne Investments. The land sold for close to its asking price of $15 per sf, Frank Egan with Eastbourne tells GlobeSt.com, adding that Cedarwood had the site under contract for six months.

The tract is situated near Harris County’s northwest border in an area booming with high-end residential development, primarily due to a positioning just minutes from the Hewlett Packard campus. Chris Winters in the Houston office of Colliers International represented Eastbourne in the sale.

Also in the northwest, Jeffrey M. and Michael L. Muse, both from Spring, TX, purchased four acres near the intersection of Kuykendahl Road and FM 2920. The Muses are planning to build out the site with a service-related retail business. Keith Grothaus of Houston-based Caldwell Watson Real Estate Group represented the local seller, Ray Cox Jr. trustee. Keith Edwards, also with Caldwell Watson, negotiated for the buyers.

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