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DevelopmentMixed-useNewsTexas

Fidelis Breaks Ground on 105-Acre Mixed-Use Redevelopment of San Jacinto Mall in Metro Houston

by Hayden Spiess

Baytown, Texas — Fidelis Realty Partners has broken ground on the redevelopment of San Jacinto Mall, a regional shopping mall located roughly 25 miles east of Houston in Baytown.  Dubbed San Jacinto Marketplace, the current phase of development will include 500,000 square feet of retail and restaurant space alongside Pelican Green, a public green space. The development in total is expected to span 105 acres and include residential, hospitality and office components upon completion.  Fidelis originally purchased 40 acres of the mall property, which opened in 1981, in July 2015 with …

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Grocery-anchoredInvestment salesNewsTexas

DIG Brokers Sale of 101,507-Square-Foot Shopping Center in Dallas Suburb

by Hayden Spiess

Richardson, Texas — Disney Investment Group (DIG) has brokered the sale of Arapaho Village, a 101,507-square-foot shopping center located in the Dallas suburb of Richardson. Tom Thumb anchors the property, which was roughly 92 percent leased at the time of sale. David Disney and Adam Crockett of DIG represented the seller, WASA Properties, in the transaction. An affiliate of Weitzman acquired the center for an undisclosed price. 

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DevelopmentNewsTexas

Marquette Cos. Receives Civic Approval for 20,000-Square-Foot Retail Project in Houston

by Hayden Spiess

Houston — Marquette Cos. has received approval from the Houston Planning Commission for a 20,000-square-foot retail project that will be located near White Oak Music Hall in Houston. The new, single-story building is scheduled for a 2025 delivery and will be marketed to bar, restaurant, coffee shop and other retail users. The development will be situated across the street from Tempo at White Oak, a 304-unit multifamily project currently underway by Marquette.

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FloridaGrocery-anchoredInvestment salesNewsTexas

Longpoint Purchases Two Retail Centers for $45.7 Million

by Hayden Spiess

Houston and Pompano Beach, Fla. — Longpoint Partners has purchased two shopping centers for a total of $45.7 million. The properties — Plaza Mexico in Houston and Palm Aire Marketplace in Pompano Beach, Florida — comprise 103,907 and 143,219 square feet, respectively. El Rancho anchors Plaza Mexico, which was 96 percent occupied at the time of sale, and El Presidente Supermarket anchors Palm Aire Marketplace, which was 90 percent leased at the time of sale. Both properties will be managed under Longpoint’s new Lena Centers brand. 

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GeorgiaGrocery-anchoredInvestment salesNewsTexasVirginia

Sterling Acquires $180.5 Million Shopping Center Portfolio 

by Hayden Spiess

West Palm Beach, Fla. — The West Palm Beach-based Sterling Organization has acquired a portfolio of three shopping centers for $180.5 million. The portfolio was purchased on behalf of the value add fund investment vehicle Sterling Value Add Partners IV L.P. ,and SITE Centers was the seller. The properties include Fairfax Towne Center in Fairfax, Virginia; Presidential Commons in Snellville, Georgia; and Village at Stone Oak in San Antonio.  Safeway anchors Fairfax Towne Center, which totals 253,392 square feet. Other tenants at the property include T.J. Maxx, Regal Cinemas and JOANN …

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Investment salesNewsTexas

Hanley Arranges Sale of 14,490-Square-Foot Single-Tenant Property in Houston Suburb

by Hayden Spiess

Spring, Texas — Hanley Investment Group Real Estate Advisors has arranged the sale of a 14,490-square-foot single-tenant property located in Spring, a suburb of Houston. Built in 2001, the building is situated within a Kroger-anchored shopping center. Walgreens occupies the property. Kevin Fryman, Garrett Wood and Ed Hanley of Hanley, in association with ParaSell Inc., represented the seller, a Houston-based private investor. Melissa Brams of Gerber Realty represented the buyer, a Louisiana-based private investor. 

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DevelopmentNewsTexas

Collett & Associates, Alexander Family to Develop $25 Million Retail Project in Metro San Antonio

by Hayden Spiess

Seguin, Texas — A joint venture between Collett & Associates and the Alexander Family will develop a $25 million retail project in Seguin, roughly 35 miles outside San Antonio. Upon completion, the development will comprise more than 135,000 square feet of retail space. Tenants at the property will include Hobby Lobby, Five Below, James Avery and an undisclosed sporting goods retailer, among others. Construction is scheduled to begin by the end of 2024, with openings scheduled for fall 2025. 

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DevelopmentNewsRestaurantsTexas

MLSA Ventures Announces Plans for 49,993-Square-Foot Food and Beverage Redevelopment of La Villita Assembly Hall in San Antonio 

by Hayden Spiess

San Antonio — MLSA Ventures has announced plans to redevelop the historic La Villita Assembly Hall in San Antonio into a food and beverage project featuring 49,993 square feet of leasable space. Renovations to the building, which was originally constructed in 1958, are scheduled to begin in the second quarter of 2025. In addition to space for food and beverage concepts, the redevelopment will include public patios and a large outdoor bar with a beer garden. Completion is expected for 2027. The project team includes Ford, Powell and Carson as the …

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Investment salesNewsTexas

Partners Capital Sells 69,037-Square-Foot Retail Property in Austin, Texas

by Hayden Spiess

Austin, Texas — Partners Capital has sold Trails at 620, a retail property totaling 69,037 square feet across seven buildings in Austin. Shea Petrick and Chris Gerard of JLL represented Partners, which acquired the property in October 2020,  in the disposition. Trails at 620 was the last property remaining in Partners’ Fund III. 

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First Colony Commons
Investment salesNewsTexas

CBRE Arranges Sale of 379,829-Square-Foot Retail Center in Sugar Land, Texas

by Hayden Spiess

Sugar Land, Texas — CBRE has arranged the sale of First Colony Commons, a 379,829-square-foot retail center located in Sugar Land. Seafood City anchors the property, which was 97 percent leased at the time of sale. Mark Witcher, Chris Cozby, Jim Batjer, Harrison Tye and Jolie Duhon of CBRE represented the seller, TriGate Capital, in the transaction. Ryan Watson of CBRE secured acquisition financing on behalf of the buyer, Dhanani Private Equity Group. 

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