Fifth Corner acquired a 66,000-square-foot retail and office complex near Rice Village. The 2-acre property is at Morningside Drive and Times Boulevard. The 2-acre property has been on the market since March. The retail center is made up of three parcels at 2444 Times Blvd., 2400 Times Blvd. and 2400 Rice Blvd.
Fifth Corner acquired the property from The Apelt Co. The property includes 28,500 square feet of office space plus about 38,035 square feet of retail space with rooftop parking. The Houston Business Journal reports the office and retail space was 68% leased as of March. Most leases are short term, and all may be canceled within 1.5 years.
The seller was represented by David Carter, Pat Duffy, Chip Nash, Bob Heard and Jaleel Adatia of Colliers.
On its website, Fifth Corner says it invests in community-focused Irreplaceable Corners located in the country’s fastest-growing metros.
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