GBT to Develop 42,000-Square-Foot Grocery-Anchored Shopping Center in Texas

Kyle, Texas — GBT Realty Corp. has announced plans for the development of a 42,000-square-foot shopping center in Kyle, approximately 20 miles outside Austin. A 23,250-square-foot Sprouts Farmers Market will anchor the property, which will be situated within the 2,200-acre Plum Creek master-planned community. Dubbed Shops at The Brick and Mortar District, the center will include an additional 18,500 square feet across three buildings. GBT acquired the five-acre development site in 2023 for $3.2 million and is currently underway on site work. Vertical construction is scheduled to begin this quarter, and completion of the development is expected for spring 2025. The City of Kyle provided a $300,000 grant to support the project, and property and sales tax reimbursements are expected to total $950,000.