A growth corridor in Richmond, south and west of Houston, is poised for a new retail-driven mixed-use development anchored by a Sam’s Club warehouse store. The town, with a population of just over 11,000 residents, is among a number of Texas communities experiencing notable expansion, drawing the attention of retail developers and large-format tenants.
The planned project, known as Circle Oak, is moving forward after a land sale by The George Foundation to Park Collective Retail Partners. Park Collective intends to develop the Sam’s Club on the site at a reported cost of $51 million. The development team is evaluating a broader mixed-use program for the property, with the Sam’s Club expected to serve as the primary anchor.
In addition to the warehouse club, Park Collective is planning a 19,600-square-foot multitenant retail building on the site. The firm is also in lease negotiations with prospective users for three or four pad sites along FM 762, indicating additional freestanding or outparcel activity is anticipated. Specific tenants for the multitenant building and pad sites have not yet been disclosed.
The George Foundation has indicated that there is significant remaining land available for future commercial uses around the planned improvements. According to the foundation, the area offers ample opportunities for restaurant, retail or office ground leases on both sides of the freeway, suggesting a longer-term build-out that could accommodate a variety of users as the trade area matures.
The Circle Oak site is located across the freeway from NewQuest’s Brazos Town Center, a retail destination totaling approximately 2 million square feet. Proximity to this established regional center places the new project within an existing retail node that already attracts substantial shopper traffic and national brands.
Circle Oak is situated only a few miles north of the 19,500-acre George Ranch, a historic property that has remained in the George family’s hands for generations. The Ranch and the foundation’s ongoing land stewardship provide a backdrop for new commercial development, as portions of long-held land are transitioned into income-producing real estate to serve the region’s growing population.
As plans advance, the Sam’s Club and accompanying retail components at Circle Oak are expected to add another layer to the area’s evolving commercial landscape, reinforcing Richmond’s role in the broader growth pattern south and west of Houston.
