Conroe, Texas — Vista Cos. has acquired Montgomery Crossing, a 70,000-square-foot retail center located about 45 miles north of Houston in Conroe. At the time of sale, the center was 70 percent leased to tenants such as Dollar Tree, The Toasted Yolk Café, Whataburger and Mattress Firm. Rob Kilcrease and Matt Berry of CBRE represented Vista Cos. in the deal. The seller was not disclosed. Veritex Bank provided acquisition financing to Vista Cos.
Public-Private Partnership Plans 600,000-Square-Foot West Grove Mixed-Use Project in McKinney, Texas
McKinney, Texas — De La Vega Capital and Development has unveiled plans for West Grove, a 600,000-square-foot mixed-use project being developed through a public-private partnership with the City of McKinney, located roughly 32 miles north of Dallas. Positioned at the southeast corner of U.S. Highway 380 and Custer Road, the 53-acre open-air development will include a mix of retail, restaurants and entertainment space anchored by Whole Foods Market; a 420-unit luxury residential complex; 55,000 square feet of office space; and a two-acre park. San Francisco-based architectural firm Gensler designed the …
Sherman, Texas — Friedman Real Estate has arranged the sale of Midway Mall, a 530,000-square-foot regional shopping mall located in the North Texas city of Sherman. Anchored by department stores Dillard’s and Burlington, Midway Mall also houses tenants such as 3-D Entertainment, Art of Threading and Candy N Lots. Steven Silverman of Friedman Real Estate represented the undisclosed buyer, which plans to redevelop the property to feature a mix of uses. Specifics of the redevelopment plan were not disclosed.
Midland, Texas — SRS Real Estate Partners’ National Net Lease Group has brokered the $5.9 million sale of a two-tenant retail property located at 3200 N Loop 250 W in Midland. Britt Raymond and Kyle Fant of SRS represented the seller, a Texas-based developer. Jake Bordelon of Marcus & Millichap represented the buyer, a California-based private investor. The 94,579-square-foot property is fully occupied by Kohl’s and Crunch Fitness.
Houston — Wu Properties has acquired Willowchase Center, a 231,126-square-foot shopping center that sits on a 19.5-acre site in northwest Houston. The property was 97 percent leased at the time of sale, with Hispanic grocer Fiesta serving as its anchor. Other tenants include dd’s DISCOUNTS, Jo-Ann Fabrics, Goodwill, Northern Tool + Equipment, Mattress Firm, Family Dollar, America’s Best, Jamboree Dentistry and Metro PCS. Ryan West, Chris Gerard, John Indelli, Katherine Miller, Bailey Black and Grant Rexrode of JLL represented the seller, Fidelis Realty Partners, in the transaction. Wu Properties has …
McKinney, Texas — Disney Investment Group (DIG) has arranged the sale of Lake Forest Marketplace, a 37,500-square-foot shopping center in McKinney, about 33 miles from Dallas. The property was built in 2019. At the time of sale, Lake Forest Marketplace was fully leased to 14 tenants, including Pet Supplies Plus, MOD Pizza, Athletico, Floyds 99 Barbershop, Jersey Mike’s Subs and The UPS Store. David Disney and Adam Crockett of DIG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
Houston — CTO Realty Growth has purchased Price Plaza Shopping Center, a 205,000-square-foot retail center in western Houston, for $39.1 million. The property sits on a 22.3-acre site along the Interstate 10/Katy Freeway corridor and was 95 percent leased at the time of sale, with Best Buy, Ross Dress for Less, dd’s DISCOUNTS and James Avery Artisan Jewelry serving as the anchor tenants. The center was acquired from an undisclosed seller via a 1031 exchange.
Odessa, Texas — Cross B Development is working on the next phase of development of its Parks Bell Ranch North, a 1,700-acre master-planned community in Odessa. The latest phase of development centers on the connection of Yukon Road to State Highway 191, which completes the main thoroughfare and provides residents and commuters with access to other areas within the development. Included in the next phase is Northwind Crossing, a 500,000-square-foot shopping center and planned construction of a medical and professional hub.
Live Oak, Texas — Floor & Décor will open an 80,000-square-foot store in Live Oak, about 18 miles from San Antonio, on Monday, March 7. The store, which will employ about 50 full-time and part-time associates, will be the Atlanta-based home improvement retailer’s third in the San Antonio area and will include a design center.
Webster, Texas — Gulf Coast Commercial Group has purchased Baybrook Passage Shopping Center, a 189,334-square-foot retail property in Webster, about 29 miles from Houston. Built on 20 acres in 2003, the property was 80 percent leased at the time of sale to tenants such as Best Buy, Staples, Memorial Hermann Urgent Care, DXL Casual Male, Mia’s Table and Torchy’s Tacos. CBRE represented the seller, Passage Realty Inc., in the transaction. The new ownership plans to implement a value-add program at Baybrook Passage.