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Investment salesNewsRetailersTexas

SITE Centers Buys 40,612-Square-Foot Vintage Plaza Retail Center in Metro Austin

by Alex Tostado

Round Rock, Texas — SITE Centers Corp. has bought Vintage Plaza, a 40,612-square-foot retail center. The sales price was not disclosed. The property is located within the 330-acre La Frontera master-planned development in Round Rock, a northern suburb of Austin. Built in 2003, the asset was approximately 93 percent leased at the time of sale to tenants such as Men’s Wearhouse, Bamboo Nails & Spa and Burn Boot Camp. Cathy Nabours, Walter Saad, Kyle Shaffer and Josh Villarreal of JLL represented the seller, Ironwood Real Estate, in the transaction.

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Investment salesNewsRetailersTexas

CBRE Negotiates Sale of 431,902-Square-Foot Retail Portfolio in Texas

by Alex Tostado

Dallas — CBRE has negotiated the sale of a 14-property, 431,902-square-foot retail portfolio located throughout Texas. The seller was Dallas-based Rainier Cos., which disposed of the assets as part of the sale of a 677,979-square-foot portfolio of 27 retail properties in seven states. The larger portfolio was 92 percent leased at the time of sale. The buyer and sales price were not disclosed. Michael Austry and Jared Aubrey of CBRE handled the transaction.

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DevelopmentNewsRetailersTexas

River Oaks Breaks Ground on 252,000-Square-Foot Retail Power Center in El Paso

by Alex Tostado

El Paso, Texas — Locally based shopping center developer River Oaks Properties has broken ground on Eastlake Marketplace, a 252,000-square-foot retail power center that will be located at the corner of Interstate 10 and Eastlake Boulevard in El Paso. The opening is scheduled for late 2020.

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Grocery-anchoredInvestment salesNewsRetailersTexas

CBRE Negotiates Sale of 174,181-Square-Foot Grocery-Anchored Retail Center in Houston

by Alex Tostado

Houston — CBRE has negotiated the sale of Northbrook Shopping Center, a 174,181-square-foot retail property located along U.S. Highway 290 in Houston. El Rancho Supermarket anchors the center, which was approximately 97 percent occupied at the time of sale. Mark Witcher, Chris Cozby, Jim Batjer and Blaine Dozier of CBRE represented the seller, Weingarten Realty, in the transaction. Wu Family Trust purchased the asset for an undisclosed price.

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Investment salesNewsRetailersTexas

Disney Investment Group Brokers Sale of 129,941-Square-Foot Retail Power Center in Temple, Texas

by Alex Tostado

Temple, Texas — Dallas-based Disney Investment Group (DIG) has brokered the sale of Bird Creek Crossing, a 129,941-square-foot retail power center located in the Central Texas city of Temple. Built in 2007 and shadow-anchored by Target and Home Depot, the property was 98 percent leased at the time of sale to tenants such as Best Buy, Michaels, PetSmart and SPEC’s Wine & Spirits. David Disney and Adam Crockett of DIG represented the undisclosed seller and procured the private 1031 exchange buyer.

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DevelopmentNewsRetailersTexas

Weitzman to Renovate Target-Anchored Shopping Center in Irving

by Alex Tostado

Irving, Texas — Weitzman will renovate Irving Towne Center, a 240,000-square-foot retail center located at the intersection of State Highway 183 and North Belt Line Road in Irving. Originally built in 1986 and anchored by Target, the center houses tenants such as Tuesday Morning, On The Border and Anytime Fitness. Hodges & Associates is the architect for the renovation project, which is expected to begin in late 2019 or early 2020 and to be complete by the end of 2020.

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FinanceNewsRetailersTexas

Berkadia Secures $18.9 Million CMBS Financing for Two Retail Properties in Metro San Antonio, Dallas

by Alex Tostado

Garland, Texas — Berkadia has arranged CMBS financing totaling $18.9 million for two retail properties near San Antonio and Dallas. The financing included a $15.4 million, 10-year loan that Argentic provided for Courtyard Plaza, a retail strip center located at 155 S. Interstate 35 in the San Antonio suburb of New Braunfels. The other deal was a 10-year, $3.5 million loan that Wells Fargo provided for Duck Creek Community Shopping Center, a retail center located at 5006 N. Jupiter Road in the Dallas suburb of Garland. Joseph Hevey Jr. of Berkadia’s …

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Investment salesNewsRetailersTexas

Marcus & Millichap Brokers Sale of 8,723-Square-Foot Retail Strip Center Near Dallas

by Alex Tostado

Sachse, Texas — Marcus & Millichap has brokered the sale of Brookview Center, an 8,723-square-foot retail strip property located in Sachse, a northeastern suburb of Dallas. Philip Levy and Connor Zmolik of Marcus & Millichap represented the seller, a private investor, in the transaction. The property was built in 1985 and was fully occupied at the time of sale. All tenants are signed to triple-net leases.

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LeasingNewsTexas

Fitness Connection Signs 55,606-Square-Foot Retail Lease at Denton’s Golden Triangle Mall

by Alex Tostado

Denton, Texas — Health club chain Fitness Connection has signed a 55,606-square-foot lease at Golden Triangle Mall, a 765,000-square-foot shopping and dining destination in Denton. GTM Development Ltd. has redeveloped the mall, which now houses anchors such as Macy’s, JC Penney, Dillard’s, Barnes & Noble and H&M. Steve Greenwood and Byron Howard of Weitzman represented building ownership in the lease negotiations. Susan Ridley and Sherman Hinkebein with The Retail Connection represented Fitness Connection, which will backfill a space currently occupied by Designer Shoe Warehouse, whose lease expires in September.

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DevelopmentEntertainmentNewsTexas

Cinemark to Open Eight-Screen Movie Theater in Cypress, Texas

by Alex Tostado

Cypress, Texas — Cinemark Holdings will open an eight-screen CUT! by Cinemark movie theater in Cypress, a northwestern suburb of Houston. The theater will feature wall-to-wall screens, enhanced sound systems, a full-service food menu and bar and an outdoor patio with a fireplace and games. Washington Prime Group will develop the theater, with construction scheduled to begin in November and the opening slated for July 2020.

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