Providence Village, Texas — GBT Realty Corp. is underway on the development of Providence Marketplace, a retail center that will total 33,700 square feet in Providence Village, roughly 45 miles north of Dallas. A 23,300-square-foot Sprouts Farmers Market will anchor the property, which will also feature roughly 10,400 square feet of small shop space and three outparcels. GBT acquired the development site in August.
College Station, Texas — PopStroke Entertainment Group has opened 10,000-square-foot, golf-focused entertainment venue in College Station. Designed by Mark Odom Studio, the facility features a centralized courtyard with a full-service bar and kitchen, yard games and outdoor seating with views of the minigolf course. The venue’s four buildings were constructed using shipping containers, with ResCon Group serving as general contractor. PopStroke now operates four venues in Texas.
Austin, Texas — Partners Group and Presidium are underway on the addition of a 65,000-square-foot indoor entertainment venue at River Park, a mixed-use project being developed by the joint venture. A third-party developer and operator will open the venue, which will serve as an anchor for the first phase of River Park and will host live music shows, community events and other programming. Upon completion, River Park will also feature retail, office and residential space, as well as public parks and trails.
Katy, Texas — Four new tenants have signed leases at LaCenterra at Cinco Ranch, a shopping center located in Katy, roughly 30 miles outside downtown Houston. Houston TX Hot Chicken, Fidelity Investments, The Salty Donut and Chewy Vet Care will occupy 4,065; 8,000; 1,329; and 3,002 square feet at the property, respectively. JLL manages the center.
Dallas — Dallas-based Lincoln Property Co. has announced a strategic investment in retail real estate owner and operator Centennial. According to the companies, Lincoln has committed a “significant” amount of capital for the future acquisition and redevelopment of retail and mixed-use developments, which will be jointly owned by Lincoln and Centennial. Lincoln has also invested in Centennial’s operating platform. Centennial, which was founded in 1997 and is also based in Dallas, currently operates more than 23 million square feet of retail and mixed-use properties across 18 states. Whitney Livingston, president of …
Conroe, Texas — STRIVE has arranged the sale of Teas Crossing, a 57,612-square-foot shopping center located in Conroe, about 40 miles north of Houston. Built in 2008, the center was 70 percent leased at the time of sale to tenants including Verizon Wireless, Benihana, Firehouse Subs and Massage Envy. Jake Dutson and Adam Gottschalk of STRIVE represented the seller, Houston-based development and investment firm Read King Commercial, in the transaction. John Harry of John Harry Realty Advisors represented the buyer, an undisclosed, Houston-based 1031-exchange investor.
Frisco, Texas — Marcus & Millichap has brokered the sale of a five-tenant retail center located in Frisco. William Kim of Marcus & Millichap represented the buyer, JT Arlington, in the transaction. Duke Dennis of Marcus & Millichap arranged $2.8 million in acquisition financing on behalf of the buyer. Tenants at the property, which totals 9,291 square feet and was fully occupied at the time of sale, include Active Dental, Stonebrook Eyecare and Eyewear, ATI Physical Therapy, Momo’s Coffeehouse and Jamba Juice.
Houston — Great Big Game Show, a new interactive entertainment concept, will open within a 1,008-square-foot space at CITYCENTRE, a 47-acre mixed-use development in Houston. Developed by the creators of The Escape Game, the venue will offer visitors the opportunity to be contestants in a game show featuring challenges, questions and games. Scheduled to open this fall, the destination will be situated adjacent to an Escape Game facility. TriGate Capital is the landlord.
Miami — Miami-based Orion Real Estate Group has acquired a retail portfolio located in Florida, Texas and Illinois for $50 million. An undisclosed family office sold the portfolio, which totals 94,000 square feet across 12 properties. Tenants at the properties — which include 11 single-tenant properties and two two-tenant properties — include banks, a fitness center, pharmacy, urgent care facility and quick-service restaurant. Alex Sharrin, Jeff Cicurel, Eric Osika and Noel O’Donnell of JLL Capital Markets represented the seller in the transaction.
Houston — Investment and brokerage firm Shannon Waltchack has acquired The Vintage Center, a 29,483-square-foot unanchored retail center located in northwest Houston. Tenants at the property, which was fully leased at the time of sale, include First Community Credit Union, Vintage Smile Family Dentistry, Chicken Salad Chick, Memorial Hermann-GoHealth and Trademark Salon. John Indelli and Ryan West of JLL represented the undisclosed seller in the transaction.