Houston — CTO Realty Growth has purchased Price Plaza Shopping Center, a 205,000-square-foot retail center in western Houston, for $39.1 million. The property sits on a 22.3-acre site along the Interstate 10/Katy Freeway corridor and was 95 percent leased at the time of sale, with Best Buy, Ross Dress for Less, dd’s DISCOUNTS and James Avery Artisan Jewelry serving as the anchor tenants. The center was acquired from an undisclosed seller via a 1031 exchange.
Odessa, Texas — Cross B Development is working on the next phase of development of its Parks Bell Ranch North, a 1,700-acre master-planned community in Odessa. The latest phase of development centers on the connection of Yukon Road to State Highway 191, which completes the main thoroughfare and provides residents and commuters with access to other areas within the development. Included in the next phase is Northwind Crossing, a 500,000-square-foot shopping center and planned construction of a medical and professional hub.
Live Oak, Texas — Floor & Décor will open an 80,000-square-foot store in Live Oak, about 18 miles from San Antonio, on Monday, March 7. The store, which will employ about 50 full-time and part-time associates, will be the Atlanta-based home improvement retailer’s third in the San Antonio area and will include a design center.
Webster, Texas — Gulf Coast Commercial Group has purchased Baybrook Passage Shopping Center, a 189,334-square-foot retail property in Webster, about 29 miles from Houston. Built on 20 acres in 2003, the property was 80 percent leased at the time of sale to tenants such as Best Buy, Staples, Memorial Hermann Urgent Care, DXL Casual Male, Mia’s Table and Torchy’s Tacos. CBRE represented the seller, Passage Realty Inc., in the transaction. The new ownership plans to implement a value-add program at Baybrook Passage.
Flower Mound, Texas — Weitzman has arranged the sale of Arbor Crossing, a 19,260-square-foot shopping center in Flower Mound, about 28 miles from Dallas. The property was fully leased at the time of sale to tenants such as The UPS Store, Verizon Wireless, Nekter Juice Bar and Fuzzy’s Taco Shop. Michelle Caplan and Matthew Rosenfeld of Weitzman, along with Scott Remphrey of Brytar Cos., which developed the property, represented the seller in the transaction. Rob Holuba, Patrick Camporini, Victoria Taylor Madrid and Justin Okumus with CenterSquare Investment Management, which acquired …
Cedar Park, Texas — Matthews Real Estate Investment Services has negotiated the sale of a 21,061-square-foot retail strip center located at 1201 N. Lakeline Blvd. in Cedar Park, about 26 miles from Austin. DeWitt Goss and Jeff Miller of Matthews represented the seller, Saadeh Properties, in the transaction. The buyer was Legacy Properties. The center was 94 percent leased at the time of sale.
Houston — Northern Tool + Equipment has signed a lease to open a 31,000-square-foot store at Woodforest Shopping Center in East Houston. Shawn Ackerman and Jason Du of Henry S. Miller Brokerage represented the undisclosed landlord in the lease negotiations. Clay Mote of Retail Union and Jason Baker with Baker Katz represented Northern Tool.
McAllen, Texas — Faris Lee Investments has arranged the $7 million sale of a 65,000-square-foot retail property currently under development in McAllen. The property is triple-net-leased to Floor & Décor, which is scheduled to open on March 3. Jeff Conover and Scott DeYoung of Faris Lee represented the seller, a Texas-based developer, in the transaction. The buyer was a Texas-based 1031 exchange investor.
Georgetown, Texas — SRS Real Estate Partners has negotiated the sale of Oak Meadows Marketplace, a 78,888-square-foot shopping center located in Georgetown, about 28 miles from Austin. Built in 2018, the property was 92 percent leased at the time of sale, with grocer Randall’s serving as the anchor tenant. Cathy Nabours, Walter Saad, Kyle Shaffer and Aaron Johnson of SRS represented the seller, Cypress Equities, in the disposition of the property to Phillips Edison & Co.
Austin, Texas — AutoZone has signed a lease to open a 33,000-square-foot “mega hub store” at Southbridge Plaza in Austin. The automotive retailer will operate its store, which will feature an expanded selection of parts and accessories, out of a 46,000-square-foot space that formerly housed an H-E-B grocery store. The remaining 13,000 square feet is leased to Hispanic grocer Casa Grande Supermercado. Cam Longmire and Gabe Sanchez of Weitzman represented the undisclosed landlord in the lease negotiations. Edwin Williams represented AutoZone. Other tenants at Southbridge Plaza include Dollar Tree, Sherwin-Williams, …