HOUSTON - TelAve -- Colliers is pleased to announce the sale of a premier redevelopment site located in the heart of Rice Village at the intersection of Morningside Drive and Times Boulevard in Houston, Texas. The ±1.928-acre property, one of the largest contiguous sites in the area, represents a rare opportunity to reimagine a prime retail destination in one of Houston's most vibrant urban districts.

The property was purchased by Fifth Corner, a Houston-based real estate investment firm recognized for its focus on premier urban retail and mixed-use assets. The seller was represented by David Carter, Patrick Duffy, Chip Nash, Bob Heard, and Jaleel Adatia of Colliers, alongside Julie Tysor-Taetz, President of The Appelt Company.

"This transaction represents a landmark opportunity in Rice Village, a submarket with exceptional demographics, walkability, and long-term growth potential," said David Carter of Colliers. "We're excited to see how the next chapter of this property's story will further enhance one of Houston's most iconic retail and lifestyle destinations."

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The ±1.928-acre property includes three addresses: 2400 Times Blvd., 2400 Rice Blvd., and 2444 Times Blvd. The existing improvements consist of 28,500 square feet of office space and 38,035 square feet of retail space with rooftop parking.

"Fifth Corner shares its appreciation of Colliers and the Appelt Company for their utmost professionalism in working with us. With fresh improvements and a curated tenancy, we will enhance this Irreplaceable Corner such that it will thrive within this community for years to come," said Tenel Tayar, Co-Managing Partner at Fifth Corner.

The buyer plans to make a significant capital investment to upgrade the center and attract new tenants, reinforcing its role as a cornerstone retail destination in Rice Village. While the site's scale and location make it an excellent candidate for future redevelopment, the buyer's near-term focus is on revitalizing and enhancing the property for continued retail use.

Read more at colliers.com/houston