4
McAllen, Texas — JLL Capital Markets has arranged the sale of Palms Crossing, a 399,075-square-foot, open-air retail center located in the Rio Grande Valley city of McAllen. Barry Brown, Chris Gerard, Claudia Steeb and Erin Lazarus of JLL represented the seller, WPG, in the transaction. The buyer was Winter Park, Florida-based CTO Realty Growth.
Situated on nearly 47 acres, Palms Crossing was 98 percent leased at the time of sale to tenants including Hobby Lobby, Restaurant Depot, Best Buy, Burlington, Barnes & Noble and Guitar Center. The property also offers more than five acres of developable land and four separate parcels to accommodate additional pad site opportunities.