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. …
Texas
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.
Cushman & Wakefield Arranges Sale of 79,739-Square-Foot Shopping Center in Metro Dallas
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 …
McKinney, Texas — Cinemark Holdings Inc. has opened a 14-screen theater at the intersection of U.S. Highway 380 and Hardin Boulevard in the northern Dallas suburb of McKinney. The freestanding venue features wall-to-wall screens, oversized recliners with footrests, an arcade and a variety of food and beverage options. The theater is Cinemark’s 27th in the Dallas-Fort Worth area.
Houston — Three new food and beverage concepts will open at Memorial City, a 265-acre mixed-use development in Houston owned by local firm MetroNational. A 7,000-square-foot space will be built for Kirby Ice House, with construction beginning this summer and the bar opening in fall 2020. A 5,830-square-foot space will be constructed for burger and milkshake concept Mia’s Table, and a 4,550-square-foot space will be built for Austin, Texas-based Torchy’s Tacos. Construction of both of those venues will begin this spring, with openings slated for next spring.
Austin, Texas — Baceline Investments LLC, a Denver-based boutique real estate investment firm, has acquired Dakota Plaza, a 21,700-square-foot retail center in Austin, for $4.2 million. The property, which was built in 2006 and is located at 8516 Anderson Mill Road, was acquired in conjunction with shopping centers in Milwaukee, Louisville, Kentucky; and Maybrook, Illinois.
Life Time to Bring 94,000 Square Feet of Fitness, Coworking Space to Downtown Houston
Houston — Life Time Inc., an owner-operator of health clubs across the country, will bring a 56,000-square-foot athletic facility and 38,000-square-foot coworking space to GreenStreet, an office and retail property in downtown Houston by local developer Midway. The facility will be located at 1201 Main St. and will offer two floors featuring a range of health and wellness amenities combined with coworking space. The opening is scheduled for 2020.
Irving, Texas — Stumpy’s Hatchet House, an entertainment concept centered on throwing axes, will open a 7,500-square-foot venue at Toyota Music Factory in Irving. The location will be the company’s first in Dallas-Fort Worth and 23rd in the country. Construction of the space is scheduled to begin in April. North Carolina-based developer ARK Group owns Toyota Music Factory.