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.
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.
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.
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 …
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.
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.
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.
Richmond, Texas — Houston-based NewQuest Properties will break ground in the coming weeks of the first phase of Grand at Aliana, a 200,000-square-foot retail project in Richmond, a southwestern suburb of Houston. The property is preleased to an array of national tenants, including 24 Hour Fitness, Burlington, Ross Dress for Less, Michaels, Petco, Ulta Beauty, Five Below, Bath & Body Works and Sketchers. Grand at Aliana will also house a 10,454-square-foot healthcare clinic that will be occupied by Baylor St. Luke’s Medical Group and provide urgent and primary care services. …
Houston — MLB Capital Partners has broken ground on its Houston Farmers Market redevelopment project. MLB Capital will upgrade the 77-year-old market to include modern infrastructure, climate-controlled spaces, shaded areas, restrooms, common seating areas, organized parking and traffic circulation, defined sidewalks, site landscaping and dedicated green spaces. James Beard Award-winning chef and project consultant Chris Shepherd plans to develop a concept unique to the Houston Farmers Market. The market will maintain business operation throughout the redevelopment process. Clark Condon Associates, Studio RED Architects, Gunda Corporation and Arch-Con Construction have been …
Terrell, Texas — A group of anchor tenants that includes Ross Dress for Less, Hobby Lobby and Five Below have opened their stores at Crossroads at Terrell, a 275,000-square-foot shopping center located 35 miles east of Dallas. Marshalls, Rack Room Shoes, Ulta Beauty, Petco, and Academy Sports + Outdoors are scheduled to open later this year. Film Alley, an entertainment concept with movies, bowling and arcades, opened at Crossroads at Terrell earlier this year. Future restaurant users at the property will include Olive Garden, Raising Cane’s and Chili’s, which will …
