Texas

Township Square

Missouri City, Texas — KM Realty Investment Trust Inc. has unveiled plans for the redevelopment of Township Square, a 67,000-square-foot shopping center located in the southwestern Houston suburb of Missouri City. Identity Architects is designing the project, which will upgrade the façade and landscaping of the 1980s-era property. The redevelopment is scheduled to begin in late fall and, tentatively, to be complete in the first quarter of next year. Tenants, which include Old Hickory Inn BBQ, Codemark Financial and Sugar’s Cajun Cuisine & Bar, will remain open during construction.

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Fort-Bend-Town-Center-Missouri-City

Missouri City, Texas — NewQuest Properties has broken ground on Phase II of Fort Bend Town Center, a project that will add 300,000 square feet of shopping, dining and entertainment space to the local supply of Missouri City, located southwest of Houston. A 12-screen Cinemark theater will anchor the 42-acre second phase, which is expected to come on line in the third quarter of 2023. NewQuest is also in the midst of negotiations with six potential junior anchor tenants for Phase II.

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ATT-Discovery-District-Dallas

Dallas — AT&T has opened Discovery District, a project that transformed the telecommunications giant’s headquarters in downtown Dallas into a mixed-use destination with retail, restaurant, office and entertainment uses. Designed by global architecture firm Gensler, AT&T Discovery District spans 6.5 acres and includes multiple art installations, as well as interactive features for customers. The Beck Group served as the general contractor of the project, which was conceived more than five years ago.

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Houston — Baker Katz has arranged the sale of a 60,935-square-foot retail building in Houston that was formerly occupied by Star Furniture. The building sits on 2.4 acres at 7111 FM 1960 on the city’s northwest side and includes showroom space. Jason Baker and Ben Brown of Baker Katz represented the seller, Power Squared Group, in the transaction. Brian Ashby of CBRE represented the buyer, Bel Furniture.

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Puttshack

Houston — Puttshack, an entertainment concept that combines tech-infused minigolf with food and beverage offerings, will open a new 26,000-square-foot venue at The Shops at Houston Center in the city’s downtown area. Puttshack recently opened its first venue in Atlanta and has plans to open additional facilities in Chicago, Miami, Boston and Nashville. The opening of the Houston facility is slated for late 2022. Brookfield Properties owns The Shops at Houston Center in partnership with Spear Street Capital.

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Stassney Heights

Austin, Texas — Newport Capital Partners has acquired Stassney Heights on behalf of its Newport Capital Partners Fund III. The 103,030-square-foot, grocery-anchored shopping center is situated on the southwest corner of Stassney Lane and Interstate 35 in Austin. CBRE represented the seller, a Northeast-based retail and industrial investment manager, in the transaction. Newmark secured acquisition financing for the sale through Wintrust Bank. Stassney Heights was 93 percent leased at the time of sale to tenants including anchor Fiesta Mart, Umi Sushi, Castle Dental, T-Mobile and Clinica Hispana.

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Waterpoint Center

Conroe, Texas — Houston-based Gordon Partners has completed the 35,000-square-foot expansion of Waterpoint Center, an office, retail and restaurant development located north of Houston on Lake Conroe. Retail and restaurant users that will soon be opening at the 140,000-square-foot waterfront property include Akashi Asian Bistro, Crust Pizza Co., Boardwalk Boutique, The Paleta Bar, Hunger Crush Café and Bar Lago Craft Cocktails. Gordon Partners will soon break ground on an additional 10,000 square feet of office and medical space that is expected to be complete in the first quarter of 2022.

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San Antonio — KM Realty Investment Trust Inc. has acquired City Base Commons, a 32,449-square-foot shopping center that is located on a 7.5-acre site south of downtown San Antonio. GFR Development sold the asset for an undisclosed price. City Base Commons was 95 percent leased at the time of sale to tenants such as Credit Human, Kung Fu Tea, Jimmy John’s, McAlister’s Deli, Raising Cane’s and Smoothie King.

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Post Oak Plaza

Houston — Levcor will redevelop Post Oak Plaza, a 503,000-square-foot shopping and dining destination in Houston’s Uptown neighborhood. Architecture firm BRR is leading the design of the project, which will be carried out in phases throughout 2022. The development team will upgrade storefronts to allow more natural light, introduce communal outdoor gathering spaces, widen pathways that connect buildings and install new landscaping features. Businesses will remain open throughout the redevelopment project. Current tenants at Post Oak Plaza include Bill Walker Clothier, Eye Elegance, FedEx, Home Source, Madison Lily, Pinto Ranch, …

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San Antonio, Texas — KM Realty Investment Trust Inc. has acquired City Base Commons, a 7.5-acre shopping center comprised of five buildings with two pad sites south of downtown San Antonio. GFR Development sold the property, which is located on SE Military Drive. The sales price was not disclosed. The center is 94.8 percent leased to tenants including Credit Human, Kung Fu Tea, LA Crawfish, Jimmy John’s, McAllister’s Deli, Raising Cane’s and Smoothie King. Both pad sites are available for lease.

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