Whitestone REIT Completes $158M Acquisition of BLVD Place
ByWhitestone REIT plans to develop a six-story building on a 1.4-acre site acquired as part of its $158 million purchase of the BLVD Place mixed-use center in the Galleria/Uptown area of Houston. Plans call for 137,000 square feet of space to be split between two floors of retail and four floors of office in a project estimated to cost $45 million.
The Houston-based REIT bought the 216,944-square-foot urban mixed-use center from developers Wulfe & Co. and Bailard Inc., which had built the property out over 13 years. BLVD Place is 99.2 percent leased with tenants including Whole Foods Market, Frost Bank, True Food Kitchen, North Italia, Regus Workspaces, Newmark Grubb Knight Frank, Virage Capital Management, Pinkberry, Elaine Turner, The Eye Gallery and more…
