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67-Year-Old Mixed-Use Center Slated for Redevelopment on Prime Bellaire Corner

Bellaire Town Center, which opened in 1950, is located two miles south of the Galleria.

Bellaire Town Center, which opened in 1950, is located two miles south of the Galleria. Photo by Ralph Bivins. 

BELLAIRE, Texas – Bellaire Town Center, a retail/office complex that opened in 1950 in the heart of the Bellaire community, is targeted for a redevelopment and expansion.

The two-story center, located at the southwest corner of Bellaire Boulevard and South Rice Avenue opened in 1950. Plans filed with the City of Bellaire indicate the center will be expanded from 39,000 SF to 71,000 SF configured in three two-story buildings.

The developer of the Bellaire Town Center is SDI Realty Advisors, a Houston-based firm formed in 1997 by Charlie Shears, who started his career at the Horne Co. and Ken Delery, formerly of Henry S. Miller Co. The firm has developed scores of retail centers in Texas, Arkansas and Louisiana.

Tenants at the Bellaire center include Coldwell Banker United Realtors, which currently occupies the second floor of the existing building and the realty firm is expected to remain a tenant.

SRI Realty Advisors controls the Bellaire Town Center where a redevelopment is proposed.

SRI Realty Advisors controls the Bellaire Town Center where a redevelopment is proposed.

The development covers more than 3 acres. The new development will be a two-story retail center with office, retail and restaurants.

The original design/build, started in 1949 was developed by the William G. Farrington Co. and it opened with First State Bank as a key tenant.

In today’s market, the location is one of the highest demand, infill markets in Texas, says Jason Gaines, Senior Vice President of Retail for NAI Partners.

The site is about two miles due south of the Galleria.

March 21, 2017 Realty News Report Copyright 2017

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