San Antonio — A partnership between CSW Development and USAA Real Estate will hold a groundbreaking ceremony for La Cantera Heights, a new retail center in northwest San Antonio, on Wednesday, May 1. Construction of the first phase will begin immediately after the event. The current tenant roster — which will include restaurant, fitness and boutique retailers —will be announced at the ceremony. Alamo Architects is designing the project; Metropolitan Construction is serving as the general contractor; and JLL is handling leasing.
Plano, Texas — Cinépolis USA will open a 10-screen, 40,000-square-foot theater at The Shops at Willow Bend in Plano as part of owner Starwood Retail Partners’ $145 million project to expand and renovate the mall. The theater, which joins entertainment concepts like Crayola Experience and the North Texas Performing Arts Children’s Theatre, will be directly integrated into the mall and will offer a variety of food and beverage options. The venue, which is scheduled to open in 2020, will be Cinépolis’ third in Texas.
Fort Worth, Texas — SHOP Cos. has arranged the sale of Woodmont Plaza North, a 42,004-square-foot retail center in Fort Worth, Texas. The property was approximately 95 percent leased at the time of sale to tenants such as Schlotzsky’s Deli, Supercuts, H&R Block, Little Caesar’s Pizza and Boost Mobile. Tim Axilrod, Tommy Tucker and Cameron Burk of SHOP Cos. represented the seller, California-based Black Lion Investment Group, in the transaction. The trio also procured the buyer, a Texas-based limited liability company.
Sugar Land, Texas — CBRE has arranged a $14.2 million construction loan and $3.4 million in equity for the development of MARCEL District, a 63,000-square-foot mixed-use project in Sugar Land, a southwestern suburb of Houston. The property, construction of which is underway and expected to last about nine months, will be located within the Cross Creek master-planned development. Jeff Stein of CBRE arranged the construction loan, which carries a floating interest rate, 76 percent loan-to-cost structure and a 25-year amortization schedule, on behalf of The Marcel Group, a private developer …
Arlington, Texas — Dallas-based STRIVE has arranged the sale of Arkansas Square, a 30,255-square-foot shopping center in Arlington. The center is home to tenants such as Walmart Neighborhood Market, Walgreens, Subway, Dollar General and Spec’s Wine. Sam House of STRIVE represented the seller, a California-based investor, and procured the buyer, a locally based investor. Both parties requested anonymity.
San Antonio — A joint venture between REATA Real Estate Services and Stonefield Investment Advisors has acquired Brooks Corner Shopping Center, a 173,041-square-foot retail power center located in San Antonio. The property was built in 2005 and was 96 percent leased at the time of sale to an array of national tenants, including Ross Dress for Less, Petco, Conn’s HomePlus and Dollar Tree. Brooks Corner is also shadow-anchored by H-E-B, The Home Depot and Target. The seller was InvenTrust Properties, an Illinois-based retail REIT. The sales price was not disclosed. …
Austin, Texas — PINSTACK — an entertainment concept that combines bowling with other activities, as well as food and beverages — will open a 50,000-square-foot venue at Tech Ridge Center in Austin. This will be the first location outside of the Dallas-Fort Worth metroplex for PINSTACK, which is owned by Entertainment Properties Group Inc. In addition to bowling, the Austin center will offer a rock-climbing wall, virtual reality games, laser tag, bumper cars and a ropes course, as well as a chef-driven menu featuring craft cocktails, wine and draft beer. …
Irving, Texas — Following a merger with the parent company of the Chuck E. Cheese brand, London-based Leo Holdings Corp. plans to rebrand itself and take the new company public on the New York Stock Exchange (NYSE) under the ticker symbol “CEC.” The enterprise value of the combined company, which will be known as Chuck E. Cheese Brands Inc., is estimated at $1.4 billion. Leo Holdings, which is self-described as a special purpose acquisition firm, has entered into a “definitive business combination agreement” with Queso Holdings Corp., which is the …
Live Oak, Texas — Tryperion Partners has sold Gateway Plaza, a 136,553-square-foot retail center in Live Oak, 17 miles northeast of downtown San Antonio. The Burlington-anchored property was 98 percent leased at the time of the sale to tenants including Goodwill, Laser Legend, Furniture Now, James Avery Craftsman and Great Clips. Nooner Holdings purchased the asset, which was built in 2008 and sits on 13.7 acres. John Taylor, Drew Fuller, Josh Villarreal and Kyle Shaffer of HFF represented the seller in the transaction.
Plano, Texas — Cushman & Wakefield has arranged the sale of Preston Creek Shopping Center, a 79,730-square-foot shopping center in Plano. The property, which is located 25 miles north of downtown Dallas, was built in 2006 by the seller, ASG Realty. Tenants of the unanchored shopping center include Pei Wei Asian Diner, Modern Market, Cowboy Chicken, Cristina’s Fine Mexican Restaurant, Turkish Café and II Brothers Grill & Bar. Chris Harden, Kris Von Hohn and Ryan Duffie of Cushman & Wakefield and Samer Keilani and James Hankins of ACR Realty represented the …