Austin, Texas — InvenTrust Properties Corp. has acquired two shopping centers in Austin for $189.3 million. The sale includes The Shops at Arbor Trails, a 357,000-square-foot center anchored by Costco Wholesale and Whole Foods Market; and Escarpment Village, a 168,000-square-foot shopping center anchored by H-E-B. The Shops at Arbor Trails was 99 percent leased at the time of sale, while Escarpment Village was fully leased.
Lewisville, Texas — Disney Investment Group has negotiated the sale of Lewisville West, a 129,129-square-foot shopping center located in Lewisville, about 25 miles north of Dallas. Anchored by El Rancho Supermercado, the center was 79 percent leased at the time of sale to tenants such as Liquor Den, Jefferson Dental, Verizon, Cricket Wireless and Starbucks Coffee. David Disney and Adam Crockett of DIG represented the undisclosed seller and procured the buyer, Newport Capital Partners, in the transaction.
Austin, Texas — Inspire Development, an Austin-based developer of residential and commercial properties, has broken ground on the first phase of Pearson Ranch, a new mixed-use campus in northwest Austin. The $2 billion project will include 2.6 million square feet of new office space; 200,000 square feet of stores, restaurants and community and cultural spaces; two hotels; thousands of high-end residences; and 30 acres of park land. Phase I of Pearson Ranch will span 41 acres and feature approximately 600,000 square feet of office space, three high-end apartment communities and …
McKinney, Texas — Disney Investment Group has arranged the sale of Craig Crossing, a 128,394-square-foot shopping center in the northern Dallas suburb of McKinney. Anchored by Club 4 Fitness, Boot Barn and Chair King, Craig Crossing was 90 percent leased at the time of sale. Other tenants include Half Price Books, Sport Clips, Fuzzy’s Taco Shop, AT&T Wireless and America’s Best Eyeglasses. David Disney and Adam Crockett of DIG represented the seller, Centcom Realty Corp., and procured the buyer, ALTO Real Estate Funds, in the transaction.
Garland, Texas — Northmarq has arranged an $11.5 million acquisition loan for North Garland Crossing, a 75,811-square-foot shopping center in the northeastern Dallas suburb of Garland. Shadow-anchored by a Super Target, the center was built in 2004 and houses tenants such as Michaels, PetSmart, AT&T and Starbucks Coffee. David Garfinkel and Ron Reese of Northmarq arranged the debt on behalf of the buyer, Bianco Properties. Mutual of Omaha provided the loan.
Pearland, Texas — Fidelis Realty Partners has purchased Shadow Creek Ranch, a 613,468-square-foot retail power center located in the southern Houston suburb of Pearland. Built in 2008 and anchored by grocer H-E-B, Shadow Creek Ranch was 98 percent leased at the time of sale. Other tenants include Academy Sports + Outdoors, Ashley HomeStore, Burlington, Dynamic Fitness, Hobby Lobby, Men’s Wearhouse, Pure Barre, Salata, Taco Cabana, Longhorn Steakhouse and Subway. Ryan West, Chris Gerard, Barry Brown, Wendy Vandeventer and Katherine Miller of JLL represented the seller, EDENS, in the transaction. Fidelis …
Irving, Texas — Structure Commercial has arranged the sale of Imperial Square, a 68,492-square-foot retail center in Irving. At the time of sale, the center was fully leased to a tenant roster that includes FedEx-Kinkos, Allegiance Staffing and Mint Mobile. Eric Deuillet and Jake Burns of Structure Commercial represented the undisclosed seller in the transaction. Greg Nelson and Brent Bosworth of Paladin Partners represented the buyer, Global Unique Logistics Corp.
Houston — Partners Capital has purchased Bay Pointe Shopping Center, a 98,522-square-foot shopping center in southeast Houston. Matt Berry, Robbie Kilcrease and Drew Reinking of CBRE represented the undisclosed seller in the transaction. Veritex Bank provided acquisition financing. The property was fully leased at the time of the sale. The new ownership plans to expand the property by 30,000 square feet.
Denton, Texas — Steeplechase Ventures LLC has acquired Presidio Plaza, a 166,225-square-foot shopping center located in Denton. The property, which was 91 percent leased at the time of sale, was originally constructed as a regional outlet mall known as Stonehill Center. Adam Howells, Ryan Shore and Matthew Barge of JLL represented the seller, LAD Ventures LLC, which purchased the asset in 2016 and subsequently expanded it, in the transaction.
Prosper, Texas — Younger Partners has purchased The Shops at Prosper Trail, a 96,948-square-foot shopping center located northeast of Dallas in Prosper. Shadow-anchored by Kroger, the property was 98 percent leased at the time of sale. Adam Howells of JLL represented the seller, MQ Development Co., in the transaction. Micah Ashford, Moody Younger and Kathy Permenter represented Younger Partners on an internal basis.
