Colliers and owner’s representative Julie Tysor-Taetz, president of The Appelt Company, are pleased to present for sale to qualified investors fee simple interest in a truly unique redevelopment opportunity in highly desirable Rice Village in Houston, Texas. The site is located in the West University submarket in the shadow of Rice University and the Texas Medical Center. The subject Property is comprised of 2400 Times Blvd., 2400 Rice Blvd. & 2444 Times Blvd., and together totaling approximately 1.928 acres / 84,000 square feet of land with improvements.

The Property has improvements including 28,500 square feet of office space, 12,530 square feet and 25,505 square feet of retail space with rooftop parking, respectively. The office and retail space are 68% leased and are currently generating approximately $992,000/ year in net income. Most leases are short term, and all may be cancelled within 1.5 years.

Colliers believes that the highest and best use of the property is to be redeveloped as a mixed use, multifamily and retail project. This highly desirable submarket has very limited opportunities for new development.