Rice U.’s real estate appetite for Rice Village property just picked up another choice tidbit: 2445 Times Blvd. That’s the 1955 flat-topped 7,500-sq.-ft. retail property on the southeast corner of Times Blvd. and Kelvin Dr. that’s spooned by mega-neighbor Village Arcade (which Rice also owns). In its listing by Davis Commercial, seller Rinkoff Rice Village LP’s asking price for the “trophy” corner was $3.995 million, though it initially sought $4.2 million. Who’s currently on display behind all the storefront windows?
Longtime Village staple Miss Saigon and neighbors Grace Ann’s accessory shop, Joseph Keith Jewelry, Myth Hair Salon & Spa, and the Yum Yum Cha Cafe front the building’s sidewalks. Customers must vie for street parking, however, as the property has none of its own.
The recent deal (price undisclosed) joins Rice University’s other area holdings: Village Arcade, a 50-shop, 2-story complex with parking garage, and 2501 University Blvd., occupied by Urban Outfitters and smaller, specialty retailers. An aerial map included in an early flyer by Trademark Property Co., which Rice U. has hired to revamp and manage Village Arcade, shows how the most recently purchased corner property sort of squares off the footprint of the property outlined in red below: The corner of Times and Kelvin otherwise forms a notch in the northern border of the property:
- Previously on Swamplot: How Rice University Might Mix Up Its Rice Village Properties