Houston — Whitestone REIT is underway with the redevelopment of Lion Square, a 117,592-square-foot shopping center located in Southwest Houston’s Asiatown District at the intersection of Bellaire Boulevard and Wilcrest Drive. Michael Hsu Office of Architecture is upgrading the property’s design with traditional Chinese and Vietnamese architectural influences, with plans to transform the center into a cultural hub that will serve the city’s expansive Asian community. The property will include greenery, sustainable irrigation systems, security and lighting enhancements and a focus on improving the center’s walkability. Asian grocer Sun Wing Supermarket …
Fort Worth, Texas — Headwall Investments has acquired River District Plaza, a 5,140-square-foot, three-tenant shopping center located in Fort Worth. This transaction marks the firm’s 17th shopping center acquisition, expanding its portfolio to more than 585,600 square feet across the metro Texas areas of Austin, San Antonio, Dallas-Fort Worth and Houston. River District Plaza was fully leased to Wingstop, No Place Like Home and Rustic on the River at the time of sale.
McKinney, Texas — McKinney City Council has granted final approval for Long Branch, a $1.3 billion mixed-use development located at the northwest corner of U.S. Highway 75 and the future U.S. 380 bypass in McKinney, roughly 30 miles north of Dallas. Creation, in partnership with Horizon Capital Holdings and Vaulter, is the developer. Spanning 155 acres, the project is expected to include approximately 1,600 multifamily homes, 135,000 square feet of retail anchored by a 65,000-square-foot grocer, a 318,600-square-foot office campus with two six-story buildings, a 100-room hotel and a 910-space structured …
Houston — Willowbrook LLC is underway with the renovation of Commons at Willowbrook, a 441,000-square-foot regional power center located in northwest Houston. The capital improvement program includes installing new monument signage and pylons, widening the main access point and updating the landscape design. Situated on 39 acres, the center is currently 85 percent leased to tenants such as Marshalls, HomeGoods, Ross Dress For Less, Michaels, Total Wine & More, Ulta Beauty, DSW and Daiso. Vincent O’Toole of Avison Young will lead leasing efforts for the property.
Fort Worth, Texas — Marcus & Millichap has facilitated the sale of 913 Houston Street, an 11,760-square-foot vacant retail property in downtown Fort Worth. Situated across from the Fort Worth Convention Center, the three-level building was originally built in 1959 and comprises a basement, main floor and a mezzanine level. Roughly a quarter mile from 913 Houston Street, approximately $2 billion of new construction is underway, including a $350 million campus for Texas A&M University and a $200 million expansion of the Omni Fort Worth Hotel. Joe Santelli of Marcus …
Conshohocken, Pa. — Swedish home furnishings retailer IKEA is expanding to Texas with three small format stores, dubbed “city stores.” The first store, a 35,000-square-foot outpost will open this spring at San Mar Plaza in San Marcos, Texas, while a second store in Rockwell, Texas — which will comprise 108,875 square feet — is scheduled to open in December, according to CultureMap Dallas. IKEA Dallas – University Park, the third small-format store, will be located at The Shops at Park Lane in Dallas, which is scheduled to open in late …
Richland Hills, Texas — STRIVE has brokered the sale of an 8,000-square-foot retail property in Richland Hills. Dollar General occupies the building. Michael Crovetti and Adam Gottschalk of STRIVE represented the seller and procured the local buyer.
San Antonio — The Sembler Co. and Forge Capital Partners have acquired Lone Oak Shopping Center, a 104,485-square-foot retail center located in San Antonio. The partnership purchased the property for an undisclosed price through its Forge Real Estate Partners V (FREP) investment fund. The retail center — which was fully leased at the time of sale — is anchored by an H-E-B grocery store. Additional tenants at the property include Citi Trends, Hibbett Sports, The Smile Center, H&R Block, Metro by T-Mobile, Little Caesars and Ace Cash Express. Sembler Co. …
Plano, Texas — JLL Capital Markets has facilitated the sale of Independence Square, a 140,218-square-foot retail property located in Plano. Situated on 13.8 acres, the center was built in 1977 and renovated in 2005. The property — which was 93 percent leased at the time of sale — is anchored by Tom Thumb. Additional tenants at the center include Anytime Fitness, Oscar Nail Lounge, Kids B Kids and Jersey Mike’s. Chris Gerard, Erin Lazarus, Barry Brown and Adam Howells of JLL Capital Markets Investment Sales and Advisory team represented the …
Lucas, Texas — Younger Partners has brokered the sale of a 42-acre parcel of land in Lucas, roughly 30 miles northeast of Dallas, to Lucas Crossing Ltd., an affiliate of Dallas-based Malouf Interests. According to Younger Partners, the buyer intends to develop a 130,000-square-foot grocery-anchored shopping center, a 25,000-square-foot restaurant village with 15 adjacent pad sites and a community park on the site. Construction for the project is scheduled to begin in the fourth quarter of 2025, with completion anticipated for 2026. Michael Ytem and Tom Grunnah of Younger Partners represented …