Grapevine, Texas — STRIVE has arranged the sale of a 4,797-square-foot gas station property located in Grapevine. QuikTrip occupies the property, which was built in 2010. Michael Crovetti and Adam Gottschalk of STRIVE represented the seller, a Kansas-based investor, in the transaction and procured the buyer, a Texas-based investor.
Round Rock, Texas — Desi Brothers Farmers Market will open a 47,814-square-foot store at Round Rock Crossing in Round Rock, roughly 20 miles north of Austin. Britt Morrison and Nick Naumann of Weitzman represented the undisclosed landlord in the lease negotiations. Michael DuBois of Pride Commercial Properties represented Desi Brothers. The opening is scheduled for next year. Other tenants at Round Rock Crossing include Target, Best Buy, Michaels and Salons by JC.
San Antonio — MIMCO has acquired Walzem Plaza, a 182,713-square-foot shopping center located in San Antonio. Tenants at the property include Harbor Freight Tools, 99 Cents Only, Footlocker, WellMed, Citi Trends and Wingstop.
Sandusky, Ohio and Arlington, Texas —Sandusky-based Cedar Fair Entertainment Co. (NYSE: FUN) and Arlington-based Six Flags Entertainment Corp. (NYSE: SIX) have entered into a definitive merger agreement to combine in a merger of equals transaction. The all-stock deal values the combined company at approximately $8 billion, including debt. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Cedar Fair investors will receive one share of common stock for each unit they own, and Six Flags shareholders will receive .58 shares for …
Houston — Activate, an interactive indoor gaming experience, has opened a 9,600-square-foot venue in Houston. Situated within the Katy Fry Center, the space features 11 activity rooms with more than 500 different games and difficulty levels. The brand, which is designed for adult participants, currently has seven additional centers in Atlanta; Chicago; Dallas; Gatlinburg, Tennessee; American Dream, New Jersey; and Louisville and Lexington, Kentucky. Additional venues are scheduled to open this year, including in Birmingham, Alabama.
San Diego and Dallas — Realty Income Corp. (NYSE: O) and Spirit Realty Capital Inc. (NYSE: SRC) have entered into an all-stock merger agreement valued at $9.3 billion. The combined company, which will operate under the Realty Income banner, is expected to become the fourth largest REIT on the S&P 500 index with a total enterprise value of $63 billion. Both companies primarily invest in freestanding, net-leased commercial properties. Realty Income boasts a portfolio of 13,100 properties located across the U.S. and Europe, and Spirit Realty owns a portfolio of …
Houston — LEVCOR has completed the redesign of Post Oak Plaza, a retail center located in Houston. Renovations at the property included updates to building and store facades, new lighting elements, upgraded landscaping and widened pathways. Additionally, three new tenants have signed leases at the center. Local Foods, Arhaus and Saatva will occupy 3,016; 22,201; and 4,000 square feet at the property, respectively. Taco Deli, Rakkan Ramen and Bosch/Thermador/Gaggenau are also scheduled to open at the center by the first half of 2024.
Katy, Texas — Four new tenants have signed leases totaling 13,401 square feet at LaCenterra at Cinco Ranch, a retail center located in Katy, roughly 30 miles outside Houston. Kilwins will open a 1,014-square-foot sweets shop in the fourth quarter of this year, and Nando’s will open a 2,754-square-foot restaurant in January. IKEA and lululemon have also signed leases at the property and will occupy 5,500 and 4,133 square feet, respectively, beginning next year. JLL manages the property.
Cedar Park, Texas — Scheels, an employee-owned sporting goods retailer based in Fargo, North Dakota, plans to open a 240,000-square-foot store in Cedar Park, a northern suburb of Austin. The store will be the retailer’s second “All Sports” location to open in Texas, joining a store at Grandscape in The Colony that opened in 2020. Scheels plans to employ more than 500 associates at the store, most of whom will be local to Cedar Park. The Cedar Park Scheels is the second anchor tenant announced for CedarView, a mixed-use development that …
Friendswood and Katy, Texas — Graycor Construction has completed the renovation of two DICK’S House of Sport stores in Texas. Located in Friendswood and Katy, the spaces comprise roughly 100,000 square feet each and feature a climbing wall, multisport cage and golf simulation. Fox Design was the architect for both projects, which included both interior and exterior updates.