Developer Scott Bardwell has acquired a new 5,000-square-foot office building at 5153 Bluebonnet Blvd. to accommodate his growing residential development firm. In a transaction that closed Thursday, an investment partnership of Bardwell Homes acquired the building for $875,000 from Bluebonnet Province LLC, which is owned by R. Craig Smith.
Bardwell Homes will occupy half the building, which is located in Province of Bluebonnet at the corner of Bluebonnet and Gail Street, and will lease the other half to an investment advisory firm.
“We just outgrew our space,” Bardwell says. “We’re growing and doing a lot more business so we needed bigger offices.”
Earlier this year, Bardwell Homes acquired more than 12 acres in The Village at Magnolia Square and is planning to develop the first of two filings in a new residential section of the TND.
The firm also is developing a new 68-lot filing at University Club called The Veranda at University Club Plantation, and recently acquired a seven-acre tract on Jones Creek for a new multifamily complex.
—Stephanie Riegel
