01/25/16 12:30pm

Blue Mercury, 2506 University Blvd., Rice Village, Houston, 77005

The western corner space at University Blvd. and Kelvin St. in the Rice Village now has a coat of white paint over its brick facade, though the storefronts to either side have yet to follow suit. The space, last occupied by a Sprint store prior to a multi-year vacancy, appears to be setting up as the next link in the Blue Mercury cosmetics-spa chain, while street and utility work progresses at the corner.

The former Village Arcade (now being rebranded as, simply, the Rice Village) consists of the shopping centers on University on either side of Kelvin St.; the buildings were acquired from Weingarten in 2014 by Rice University, which already owned the land beneath the center and employs the same St. Joe brick in many of its campus buildings. Rice also employs development company Trademark to manage the Arcade property; the company released a few renderings of the first phase of the center’s intended makeover last fall, just before work began:


University Redo
02/02/15 3:30pm


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?


Miss Saigon Goes to Rice