HOUSTON – The Richland Cos., a Houston commercial real estate firm led by Edna Meyer-Nelson, has acquired a retail center in the Energy Corridor of west Houston.
Richland bought Lakes on Eldridge Centre, at 5630 North Eldridge Parkway in the heart of the Energy Corridor. The center sits on 2.1 acres at the southeast corner of North Eldridge Parkway and Tanner Road.
“We’re looking forward to joining and serving the Energy Corridor community. It’s a market we’ve had our eye on for a while,” says Edna Meyer-Nelson, President and CEO of The Richland Companies. “It’s a high growth area even with the drop in oil prices and recent layoffs, it sees more than 47,000 cars per day drive by has a population of 67,000 within three miles and has an expected 9% population growth projection in the next five years.”
Lakes on Eldridge Centre becomes Richland’s fourteenth property in Houston, marking 1.8 million square feet of properties which Richland owns and manages. Richland will assume management responsibilities of the property, as it does with its entire portfolio of 34 properties in four states throughout the Southwestern United States.
Some other notable properties owned and managed by Richland in Houston include 550 Post Oak, Bay Plaza Office Complex, Beltway 8 Service Center, Cedarstone One, Deerbrook Corner, Fairmont PH Business Park, McDonald’s-Beltway 8 and Raton Plaza.
Jan. 27, 2015