Texas

Tomball, Texas — A partnership between Baker Katz and Fox & Graham is developing Tomball Mercantile, a 15,225-square-foot retail center located in Tomball, approximately 30 miles northwest of downtown Houston. Construction is expected to begin this summer. Confirmed tenants at Tomball Mercantile, which is already 80 percent preleased, include Tex-Mex concept La Viva Cantina and Jason’s Deli. The center will be situated at the entrance of the 150-acre Tomball Medical Complex.

Tyler, Texas — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant restaurant property located in the East Texas city of Tyler. IHOP occupies the 4,464-square-foot building, which is situated on a 1.9-acre outparcel to a Walmart Supercenter. The lease has seven years remaining. This transaction marks Hanley Investment Group’s third IHOP sale in Texas in the last five months. Garrett Wood of Hanley Investment Group, in association with ParaSell Inc., represented the seller, a private investor based in Florida. The buyer represented themselves.

Flower Mound, Texas — Marcus & Millichap has brokered the sale of Long Prairie Plaza, a 17,107-square-foot retail center located in Flower Mound, roughly 25 miles northeast of Fort Worth. The center comprises two adjacent multi-tenant buildings constructed in 2022. Tenants at the property, which was fully leased at the time of sale, include Active Dental, TeaCupfuls, Fiore Nail Bar, Cold Stone Creamery, JDX Blinds, Zelene Head Spa, Degree Wellness and Donatos Pizza. Philip Levy and Chris Gainey of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, a Florida-based private capital investor, in the …

San Antonio — JLL Capital Markets has negotiated the sale of The Legacy, a 353,000-square-foot lifestyle center located in San Antonio. Barry Brown, Whitney Snell and Shea Petrick of JLL represented the seller, Santikos Real Estate Services. Rio Capital, in partnership with Triangle Capital Group, purchased the property. Built in 2006 on 32.2 acres, The Legacy features a mix of tenants such as Main Event Entertainment, Best Buy, Spec’s, Paul Mitchell and Buffalo Wild Wings. Along with ground-floor retail, the property includes second floor office space and five pad sites.

Katy, Texas — Phillips Edison & Co. has acquired Firethorne Plaza, a 29,986-square-foot retail strip center located in Katy, a western suburb of Houston. Ryan West and John Indelli of JLL represented the seller in the transaction. Situated at the entrance of the Firethorne master-planned community, the retail center was fully leased to 14 tenants at the time of sale. Retailers and restaurants at the property include Edward Jones, Pizza Hut, Tide Dry Cleaners, Fusion Wok, Café Petra, Evolve Fitness, EZ Floors and Eye Level Learning.

San Marcos, Texas — Marcus & Millichap has brokered the sale of Centerpoint Plaza, a 13,611-square-foot multi-tenant retail center located in the Central Texas city of San Marcos. Coleman Solomon, Joseph Blanga and Philip Levy of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, both local private investors.  Situated at 690 Center Point Road, Centerpoint Plaza was fully leased at the time of sale to Cody’s Restaurant Bar & Patio, Hays Co. Outfitters, Two P’s & Calli’s Boutique, Hot Nails & Spa and Butter Sweet by Cody’s, along with a …