Retail wrap: Marcel Group to bring lifestyle development to Sugar Land

The Marcel Group, a privately owned commercial real estate firm based in The Woodlands, plans to break ground on the Marcel District, a lifestyle development in Sugar Land, in May. The 68,785-square-foot mixed-use development, on 7.3 acres at the southeast corner of University Boulevard and LJ Parkway will take about nine months to complete. It will have 41,785 square feet of retail, restaurant and service-oriented space, and 27,000 square feet of office space. Jeff Stein of CBRE lined up a $14.2 million construction loan through a regional bank and $3.4 million of equity financing from a private investor. The center, adjacent to Johnson Development’s Riverstone community, is expected to take 18 months to lease up.