Addison, Texas — General contractor The Beck Group has completed the redevelopment of Prestonwood Place, a 133,353-square-foot shopping center located in the northern Dallas suburb of Addison. Northwood Retail owns the center, which was originally built in 1980 and now houses tenants such as Catapult Health, Mendocino Farms, Biscuit Bar and La La Land Kind Café. The project involved renovation work for 40,000 square feet of façade updates and the conversion of existing retail space into 60,000 square feet of creative office space. The development also transformed a vacant manufacturing …
Taylor, Texas — The Boulder Group has arranged the $2.4 million sale of a 6,912-square-foot retail property that is net-leased to Advance Auto Parts in Taylor, located northeast of Austin. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private investor based in the Southwest, in the transaction. The undisclosed, West Coast-based buyer completed the deal via a 1031 exchange.
Dallas — Weitzman will redevelop Meadow Central Market, a 108,778-square-foot shopping center located at the intersection of North Central Expressway and Meadow Road in Dallas. A 29,121-square-foot Tom Thumb store anchors the center, which originally opened in the 1970s. The grocery store will receive new flooring, lighting and select food departments as part of the project. Other tenants include CVS/pharmacy, Edible Arrangements, The UPS Store and Sylvan Learning Center. Weitzman will upgrade the center’s façade, landscaping, signage and parking. Hodges & Associates is leading design of the project, which is …
Willis, Texas — Fidelis has broken ground on Phase I of The Market at Willis Shopping Center, located 48 miles north of Houston in Willis. Phase I of the project will be anchored by H-E-B and will include over 200,000 square feet of retail, restaurant and service space. The center is expected for completion in 2022. Phase II of the development is expected to break ground during the third quarter of 2022 and will include additional retail space, restaurants and a three-story, garden-style multifamily community offering 250 units. Fidelis began …
Houston — Midway has broken ground on East River, a 150-acre mixed-use project that is located on the Buffalo Bayou in Houston’s Historic Fifth Ward. Phase I will center around development of The Laura, a 360-unit apartment community, as well as 250,000 square feet of office space and 110,000 square feet of retail and restaurant space. In addition, the first phase — completion of which is slated for 2023 — will include 13,000 square feet of open green space for public events and live music. Lastly, a nine-hole, par-three public …
Houston — EDENS is underway on the renovation of Plaza in the Park, a 143,000-square-foot shopping center in the West University area of Houston. Planned upgrades at the center, which was originally built in 1999, will include fresh paint for storefronts, more outdoor seating for diners, revamped landscaping and new pathways to connect the buildings. All tenants at Plaza at the Park — which include Kroger, Massage Envy, Sprint, Subway and Vision Optique, among others — will remain open during the renovation. Construction is scheduled to be complete in mid-fall …
Dallas — JLL has negotiated the sale of The Hill, a 240,000-square-foot shopping center located at the corner of Walnut Hill Lane and Central Expressway in north-central Dallas. Built in 1977, The Hill houses tenants such as Houndstooth Coffee, Hiatus Spa + Retreat, Snooze, Taco Deli, Hat Creek Burger Co. and Boardroom Salon for Men. Barry Brown, Ryan Shore, Chris Gerard and Jason Jacobs of JLL represented the seller, EB Arrow, in the transaction. Asana Partners purchased the property for an undisclosed price in an off-market deal.
Forney, Texas — Victory Real Estate Group will develop The Victory Shops at Forney, a new retail project that will be located on a 26-acre lot in Forney, an eastern suburb of Dallas. Phase I of the project will consist of 44,000 square feet across four buildings. Phase II of the development will span 160,000 square feet. Tenants are set to include Kohl’s, Aspen Dental, Jamba Juice, Chiloso Tex-Mex, The Joint Chiropractic, Mod Pizza and My Eye Lab. Construction of Phase I is set to begin in mid-September and to …
Cypress, Texas — InvenTrust Properties Corp. will redevelop Cyfair Town Center, a 433,667-square-foot shopping center in the Houston suburb of Cypress. The center is anchored by Kroger, JC Penney and Cinemark. The first phase of the renovation will begin this month, with completion scheduled for the fourth quarter of 2021. The second phase will begin in January 2022 with completion anticipated in late summer 2022. InvenTrust’s improvements to the center will include new paint, LED lighting along the storefront exteriors, storefront awnings, upgraded signage and enhanced landscaping throughout the property. …
Tomball, Texas — A joint venture between The J. Beard Real Estate Co. and Outlier Capital LLC has purchased Tomball Town Center, a 141,450-square-foot shopping center located in the northern outskirts of Houston. Kroger anchors the center, which was built on 14.1 acres in 2004. David Disney and Adam Crockett with Dallas-based Disney Investment Group represented the sellers, Illinois-based shopping center REIT InvenTrust Properties and a fund advised by Crow Holdings Capital, in the transaction. Morgan Stanley provided acquisition financing. Tomball Town Center was 98 percent leased at the time …