San Antonio — Fifth Corner has purchased South Bank, a 46,704-square-foot shopping center located in San Antonio on the San Antonio River Walk. Tenants at the property, which was fully leased at the time of sale, include Hard Rock Café, The County Line Bar-B-Q, Paesano’s, Cowboy’s Alamo City Harley-Davidson, Ben & Jerry’s, Howl at the Moon, Merkaba and Fat Tuesday. Chris Gerard, Ryan West, Barry Brown, Erin Lazarus and Megan Babovec of JLL Capital Markets arranged the sale on behalf of the undisclosed seller.
Texas
Waco, Texas — Palomar Group has brokered the sale of Parkdale Commons, a 191,559-square-foot retail center located in Waco. An undisclosed buyer purchased the property for $15.4 million. Built in 1973, the center is anchored by Hobby Lobby. Other tenants include True Value, dd’s Discounts and Drug Emporium. Hobby Lobby and dd’s Discounts are on leases that extend through 2026, and True Value recently committed to a 10-year term. Drug Emporium also recently renewed for five years.
Irving, Texas — Palm Beach Tan Inc. has acquired tanning chain At the Beach, which comprises 58 salons across Oklahoma, Kansas, Southern California and Colorado. The stores will be operated by franchise entities Bronze Body LLC, Old Trinity Partners LLC and West Coast Tanning. Existing At the Beach customer accounts, memberships, sessions, credits and packages will be transferred to Palm Beach Tan, and all At the Beach employees have been offered positions with Palm Beach. This acquisition brings Palm Beach Tan’s total portfolio to 650 franchised and company-owned locations across …
Houston — Enson Market, an Asian grocery concept, will open a 100,000-square-foot store in North Houston. The site is located within a 200,000-square-foot vacant shopping center. An affiliate of the company, an entity doing business as Pacific Square of FM LLC, purchased the center with plans to implement capital improvements and lease the remaining 100,000 square feet. Ryan Neyland of Davis Commercial Real Estate represented the seller, Copper Leaf LLC, in the transaction. Casey Ward of CRW Commercial represented the buyer.
Houston — Midway has arranged leases with six tenants at CITYCENTRE, a mixed-use development located in Houston featuring shopping, dining, office and entertainment space. The new leases total 25,000 square feet and bring the retail space at the center to 90 percent occupancy. Restaurant Daily Gather, Nike Live, Epic-Cycles bicycle shop, Tempur-Pedic and western brand Tecovas opened at the center this year. Orthodontists Smile Doctors will also open a location at the property soon.
Carollton, Texas — Northmarq has arranged permanent financing for Carrollton Park Village, a 110,000-square-foot shopping center located in Carrollton, roughly 20 miles northwest of Dallas. Phillip Bankhead of Northmarq secured the 15-year permanent-fixed loan on behalf of the borrower, Vista Property Company. Genworth Financial provided the financing. Built in phases from 1965 to 1987, the property comprises five buildings situated on 10 acres. Tenants at the center include dd’s Discounts, Dollar General and Hibbett Sporting Goods.
NewQuest Properties Arranges Sale of 130,525-Square-Foot Tradewinds Shopping Center in Metro Houston
Texas City, Texas — NewQuest Properties has arranged the sale of the 130,525-square-foot Tradewinds Shopping Center, located southeast of Houston in Texas City. At the time of sale, the property, which sits on 11.5 acres, was roughly 40 percent leased to tenants including DD’s Discount, Family Dollar, Texas First Bank and Little Caesars. David Luther of NewQuest represented the seller, a limited partnership, in the transaction. Dakota Workman, also with NewQuest, represented the buyer, an entity doing business as 2020 Harwin 59 Shopping Center Ltd.
Austin, Texas — Austin-based Inspire Development has started construction of Pearson Ranch, a $2 billion, 156-acre mixed use project located off State Highway 45 in northwest Austin. The master plan for the project includes 48 acres of land for a corporate campus, including 2.6 million square feet of office space. Upon completion, the mixed-use property will also include approximately 200,000 square feet of retail, restaurant, and community and cultural spaces; two hotels; thousands of residential units; and 30 acres of park space. Construction on Pearson Ranch will begin with The …
Victoria, Texas —Dunhill Partners has purchased Northcross Shopping Center, a 206,284-square-foot retail center located in Victoria, roughly 100 miles northeast of Corpus Christi. JLL Capital Markets has arranged the sale of the property, which was 91 percent leased at the time of sale. Tenants at the property include Ashley Furniture, Office Depot, Tuesday Morning, Dollar General and Dollar Tree. Adam Howells, George Cushing, Matthew Barge and Cole Sutter of JLL represented the undisclosed Dallas-based seller in the transaction.
Austin, Texas and San Antonio— JLL Capital Markets has secured acquisition financing for two retail centers, both in Texas. CW Sheehan, Kaitlin Kane and Hunt Wood of JLL arranged the five-year, fixed-rate loan on behalf of the borrower, Door Capital Partners. The first property, 3701 Guadalupe, comprises 6,991 square feet in Austin in the center of off-campus University of Texas student housing. Built in 1976, the center was 100 percent leased at the time of sale to tenants including Domino’s, Walgreens, Smile Haus, Body Brite and Evo Performance. The second …