May 31, 2017
Whitestone REIT completed the acquisition of BLVD Place, a 216,944-square-foot urban mixed use center in Houston’s Galleria/Uptown area. The Houston-based retail firm bought the property along with Eldorado Plaza in McKinney, TX for a reported $204.6 million.
The Houston center was developed and owned by a partnership between Houston-based Wulfe & Co. and San Francisco-based Bailard, Inc. The 99.2%-occupied property is anchored by a diverse mix of credit tenants, such as Whole Foods Market, Frost Bank and Verizon.
Included in the purchase of BLVD Place was roughly 1.4 acres of developable land, where Whitestone plans to build a $45-million, six-story mixed-use retail and office building totaling 137,000 square feet.
HFF’s Rusty Tamlyn, Matt Kafka and Trent Agnew represented the seller.
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