Cedar Park, Texas — CenterSquare has acquired the Shops at Lakeline, a 22,443-square-foot retail center located in the Austin suburb of Cedar Park. The property was fully leased at the time of acquisition. According to a press release issued by the company, the purchase aligns with CenterSquare’s strategy “to target unanchored, high-quality essential service retail (ESR) centers in strong demographic submarkets.”
San Marcos, Texas — Partners Capital, the investment platform of Partners Real Estate, has sold San Marcos Place, a 73,882-square-foot retail center located in San Marcos. An Austin, Texas-based private buyer acquired the property for an undisclosed price. Built in 1985 and renovated in 2017, the center was 82 percent occupied at the time of sale. Cathy Nabours and Kyle Shaffer of SRS Real Estate Partners represented Partners Capital in the transaction. Partners Capital acquired San Marcos Place in June 2018 as part of its Partners Opportunity Fund II.
Houston — Marcus & Millichap has arranged the sale and financing of Providence Plaza, a 90,327-square-foot shopping center in Houston. Built in 1984 and renovated in 2018, the property was 97 percent occupied at the time of sale. Tenants at the center include Dollar Tree and Spec’s. Alex Wolansky and Gus Lagos of Marcus & Millichap represented the seller, Whitestone REIT, in the transaction. Jamie Safier of Marcus & Millichap Capital Corp. (MMCC) secured third-party acquisition financing on behalf of the undisclosed buyer.
Katy, Texas — Trademark Property Co. has been awarded the leasing assignment for LaCenterra at Cinco Ranch, a 412,900-square-foot retail center located in the Houston suburb of Katy. Current tenants at the property, which is situated within the Cinco Ranch master-planned community, include Trader Joe’s, Alamo Drafthouse Cinema, Athleta, CAVA, Lululemon, Lovesac, Warby Parker, Postino, Dish Society, Sephora, Starbucks Coffee, Pure Barre and Nando’s PERi-PERi. Daniel Goldware of Trademark will lead leasing at the center, which is managed by JLL.
Dallas — Dallas-based retail real estate owner and operator Centennial has appointed Paul Kurzawa to serve as president of the company. Kurzawa has 25 years of experience in the industry, including tenures with The Blackstone Group, Equity Office Properties, Westfield Corp., Lend Lease Corp., General Property Trust and Caruso. He most recently served as chief operating officer of CenterCal Properties. Current president Whitney Livingston is departing to join the International Council of Shopping Centers (ICSC) as chief operating officer. In addition to its portfolio of owned shopping, dining, entertainment and mixed-use …
Dallas — TGI Fridays Inc., which owns and operates 39 U.S. restaurants, has voluntarily filed for Chapter 11 bankruptcy protection in the Northern District of Texas. The Dallas-based operator cited long-running declines in sales dating back to the pandemic as the main impetus behind the filing. All independently owned and operated franchise locations, both foreign and domestic, are unaffected by the filing. An entity doing business as TGI Fridays Franchisor LLC, which owns the TGI Fridays brand and other intellectual property, was also unaffected. TGI Fridays Inc. has secured a commitment …
Manor, Texas — The Retail Connection, through its affiliate Connected Development Services, has broken ground on a 150,000-square-foot shopping center in Manor, roughly 15 miles outside Austin. Dubbed Manor Crossing, the center will be situated within a 63-acre site that will also house a 101,000-square-foot H-E-B grocery store. The property will comprise four buildings on 18 acres. Tenants at the center will include T.J. Maxx, Burlington, Planet Fitness, Five Below, Rack Room Shoes, Jersey Mike’s, James Avery, McAlister’s Deli, Mattress Firm, Tropical Smoothie Café and Tomlinson’s Feed. Cuaso Design Studio and …
Lubbock, Texas — Marcus & Millichap has arranged the sale of Fearless Plaza, a 20,657-square-foot retail center located in Lubbock. Tenants at the property include Torchy’s Tacos, Amazon, Barefoot Athletics, Tikka Shack and Hawaii Poke & Ramen. Built in 2012, the center is situated directly across from Texas Tech University. Philip Levy and Chris Gainey of Marcus & Millichap represented the seller in the transaction.
Houston — DNA Partners has sold Mason Village Shopping Center, a 96,486-square-foot retail center located in Houston. Grocer La Michoacana anchors the center, and other tenants at the property include Harbor Freight, Freebirds, Jiffy Lube and Jason’s Deli. Ryan West, John Indelli and Clay Anderson of JLL Capital Markets represented the seller in the transaction. Longpoint Realty Partners acquired the property for an undisclosed price.
Houston — Katz’s Deli, a 24-hour restaurant concept, has signed a 6,300-square-foot lease in Houston. Construction on the new restaurant, which will be situated within the Memorial City mixed-use development, is scheduled to begin in early 2025. Delivery of the development is expected by early 2026. MetroNational owns and manages Memorial City. Larry Plotsky of the Plotsky Group and Meredith Cullen of Cushman & Wakefield represented the tenant in the lease negotiations, and Danna Diamond represented MetroNational on an internal basis. This marks the fifth location in the Houston market for …
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