McAllen, Texas — Hanley Investment Group Real Estate Advisors has facilitated the sale of a 2,240-square-foot single-tenant retail property located in McAllen. A 7-Eleven convenience store occupies the site on a 12-year, absolute net lease with 10 percent rental increases every five years. Originally built in 1977, the property has operated as a convenience store for more than 47 years. Garrett Wood and Brad Dessy of Hanley, in association with ParaSell Inc., represented the seller, a New York-based investment company. Blake Wagenseller of Matthews Real Estate Investment Services represented the Northern …
Texas
Alice, Texas — Hanley Investment Group has arranged the sale-leaseback of a single-tenant retail property located in Alice. Dairy Queen occupies the 2,608-square-foot building on a 20-year absolute triple-net-lease basis which includes 2 percent rent increases every five years. Originally built in 1983 and renovated in 2015, Dairy Queen has operated at this location for more than 30 years. Garrett Wood of Hanley represented the seller, R&L Lozano Leasing, a company doing business as F&P Development. David Bynum of Bynum Inc. represented the buyer, an entity doing business as Susan Caratan …
Fort Worth, Texas — Whitestone REIT has acquired 5000 South Hulen, an 86,907-square foot shopping center in Fort Worth. Located adjacent to Hulen Mall, Old Navy and Barnes & Noble anchor the property, which was 96 percent leased at the time of sale. Additional tenants include Sephora, Old Navy, Potbelly Sandwich Works, Sports Clips, Kincaid’s Hamburgers and Jamba Juice. Chris Gerard, Erin Lazarus and Adam Howells of JLL’s Investment Sales team represented the sellers, Trademark Real Estate and ALTO Real Estate, in the transaction. The acquisition of 5000 South Hulen marks …
Killeen, Texas — JLL Capital Markets has secured financing for the acquisition of West Killeen Market, a 44,494-square-foot retail center located in Killeen. Built in 2017, the property is 74 percent leased and shadow-anchored by an H-E-B grocery store. Other tenants include Cohen Veterans Network, Jimmy’s Egg, MB2 Dental, Twin Liquor, Verizon Wireless, Cricket Wireless, Great Clips, The Joint, Venetian Nail Spa, Lone Star Pediatric Dental & Braces and Papa John’s Pizza. Clint Coe, Chad Lisbeth and Charlie Mossy of JLL’s Debt Advisory team represented the borrower, Brownlee Waggoner Holdings …
Five Star Parks to Open 137,000-Square-Foot Indoor Theme Park in Dallas-Fort Worth Metro
North Richland Hills, Texas — Five Star Parks will open Malibu Jack’s North Richland Hills, a 137,000-square-foot indoor theme park located in the Fort Worth suburb of North Richland Hills. The entertainment complex will feature a 30,000-square-foot go-cart track, laser tag, mini-golf and an arcade, as well as thrill rides like the Whirlpool and Twist N’ Shout roller coaster. The complex also includes a Hang Ten Patio with a self-pour beverage wall, lawn games and food options. A soft opening for the theme park is scheduled for June 16, while the …
Frisco, Texas — SRS Real Estate Partners has arranged the sale of Independence Plaza, a 14,966-square-foot multi-tenant retail center located in Frisco. Built in 2018, the property was fully leased to seven food and service-based tenants at the time of sale. Michael Kaplan of SRS Capital Markets represented the seller, a family office who developed the property, in the transaction. The buyer was a Texas-based private investor.
McKinney, Texas — STRIVE has arranged the sale of 380 North A, a 7,026-square-foot retail property located at W. University Drive in McKinney. Built in 2024, the property was fully leased at the time of sale. Tenants include Fire Bowl Café, Revolution Barbershop and Soccer Corner. Hudson Lambert and Jennifer Pierson of STRIVE represented the seller, a local developer, in the transaction. The 1031 exchange buyer was a local investor. Additional terms of the sale were not disclosed. This transaction marks STRIVE’s 40th property sold in McKinney since 2019.
Midway Plans 17-Acre Central Park Post Oak Mixed-Use Redevelopment Project in Uptown Houston
Houston — Houston-based Midway, in collaboration with 3Edgewood and Parkway, has unveiled plans for Central Park Post Oak, a mixed-use redevelopment project located in Houston’s Uptown District. Formerly Post Oak Central, the co-developers will revitalize the 17-acre campus to include additional retail, new restaurants and green space. Midway and Parkway formed a joint venture to acquire the campus in October 2023 before recently buying out their investment partners. Developed by Gerald D. Hines Interests in the 1970s, the campus currently contains three office buildings totaling 1.2 million square feet and 90,000 square …
City of Sugar Land Approves $12.5 Million Renovation, Modernization of Downtown Mixed-Use Development
Sugar Land, Texas — The Sugar Land Development Corp. and the Sugar Land 4B Corp. have approved $12.5 million in funding for the renovation and modernization of Sugar Land Town Square, the city’s 1.4 million-square-foot downtown mixed-use development. Under the terms of the funding agreement, part of the project will receive upgrades to its communal office and amenity spaces, as well as its landscaping and streetscaping. In addition, another area will see renovations to its entryway, lobby and signage, along with updates to the garden area, new furniture, fixtures and equipment. …
Frisco, Texas — JLL Capital Markets has arranged the sale of Preston Stonebrook, a 53,553-square-foot retail center located in Frisco. Built in 1997, the property was 93 percent leased at the time of sale. Tenants at the center include Plato’s Closet, Emler Swim School, Dogtopia and Horizon Hot Yoga. Adam Howells and Erin Lazarus of JLL’s Investment Sales and Advisory team represented the sellers, Bo Brownlee and Easley Waggoner, Jr., of Venture Investment Partners in the transaction.