Skanska buys retail plaza in Montrose for future development

A Sweden-based developer has acquired a key retail plaza in Houston’s growing Montrose area with plans to convert it into a mix of retail and multifamily space.

Skanska paid $27 million to acquire the site, which is located at the southwest corner of Westheimer Road and Montrose Boulevard, according to a press release. The 2.86-acre site contains a 124,000-square-foot retail plaza, which is home to Half-Price Books, Mattress Firm, Spec’s Wine and Spirits, and Mattress Pro.

According to Harris…