Will Wilson Of Corsair Property Co Acquires Retail Center In Mechanicsville From John Cecil Culpepper III
3550 Lamar Avenue
Building Size
291,958 SF
Asset Type
Retail
Closing
Aug 13, 2026
About this deal
AI
The transaction involved a retail property located at 3550 Lamar Avenue in Mechanicsville, TX. The asset encompasses a total of 291,958 square feet and is anchored by retailers such as Aldi, Hobby Lobby, Ross Dress for Less, and T.J. Maxx.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Undisclosed
- Buyer: Will Wilson - Corsair Property Co
- Seller: John Cecil Culpepper III - Culpepper Realty
- Brokers: Adam Howells & Erin Myer - JLL
- Date of Transaction: 08/13/2026
The sale of Paris Towne Center was facilitated by JLL, with Adam Howells and Erin Myer serving as the representatives for the seller, Culpepper Realty. Corsair Property Co., led by Will Wilson, acquired the property, marking a significant transaction in the local retail market.
Players
Avenue Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93