Richmond, south and west of Houston, is a town of just over 11,000 residents, but like a lot of other Texas towns, its growing. So much so that a development team is considering building a mixed-use project that includes a Sam’s Club warehouse store. Called Circle Oak, the George Foundation recently sold the land to Park Collective Retail Partners to build the Sam’s Club, at a cost of $51 million.
The Houston Business Journal reports Park Collective also plans to build a 19,600-square-foot multitenant retail building and is negotiating leases with potential pad site users for three or four sites along FM 762. The George Foundation says there is also plenty of space for restaurant, retail or office ground leases on both sides of the freeway. The site is across from NewQuest’s 2 million-square-foot Brazos Town Center.
The Circle Oak site is just a few miles north of the 19,500-acre George Ranch, which has been in the George family’s possession for generations.
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