Cedar Park, Texas — Matthews Real Estate Investment Services has negotiated the sale of a 21,061-square-foot retail strip center located at 1201 N. Lakeline Blvd. in Cedar Park, about 26 miles from Austin. DeWitt Goss and Jeff Miller of Matthews represented the seller, Saadeh Properties, in the transaction. The buyer was Legacy Properties. The center was 94 percent leased at the time of sale.
Houston — Northern Tool + Equipment has signed a lease to open a 31,000-square-foot store at Woodforest Shopping Center in East Houston. Shawn Ackerman and Jason Du of Henry S. Miller Brokerage represented the undisclosed landlord in the lease negotiations. Clay Mote of Retail Union and Jason Baker with Baker Katz represented Northern Tool.
McAllen, Texas — Faris Lee Investments has arranged the $7 million sale of a 65,000-square-foot retail property currently under development in McAllen. The property is triple-net-leased to Floor & Décor, which is scheduled to open on March 3. Jeff Conover and Scott DeYoung of Faris Lee represented the seller, a Texas-based developer, in the transaction. The buyer was a Texas-based 1031 exchange investor.
Georgetown, Texas — SRS Real Estate Partners has negotiated the sale of Oak Meadows Marketplace, a 78,888-square-foot shopping center located in Georgetown, about 28 miles from Austin. Built in 2018, the property was 92 percent leased at the time of sale, with grocer Randall’s serving as the anchor tenant. Cathy Nabours, Walter Saad, Kyle Shaffer and Aaron Johnson of SRS represented the seller, Cypress Equities, in the disposition of the property to Phillips Edison & Co.
Austin, Texas — AutoZone has signed a lease to open a 33,000-square-foot “mega hub store” at Southbridge Plaza in Austin. The automotive retailer will operate its store, which will feature an expanded selection of parts and accessories, out of a 46,000-square-foot space that formerly housed an H-E-B grocery store. The remaining 13,000 square feet is leased to Hispanic grocer Casa Grande Supermercado. Cam Longmire and Gabe Sanchez of Weitzman represented the undisclosed landlord in the lease negotiations. Edwin Williams represented AutoZone. Other tenants at Southbridge Plaza include Dollar Tree, Sherwin-Williams, …
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.