Saturday , 1 October 2016
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DDR Buys Houston Retail Center for $74 Million

HOUSTON – DDR Corp. acquired Willowbrook Plaza, a 385,000-square-foot power center located in northwest Houston for $74 million.

The center, 17355 Tomball Parkway, is adjacent to Willowbrook Mall, one of Houston’s top regional malls.

Anchored by Bed Bath & Beyond, the shopping center is 87 percent leased, said DDR Corp, a REIT based in Ohio.

The seller was a venture of Dallas-based Retail Connection and Long Wharf Real Estate Partners of Boston. Marketing the property was George Cushing, Jack Crews, Wendy Vandeventer and Meaghan Gallacher of JLL.

Willowbrook Plaza, built in 1999, is located near the intersection of F.M. 1960 and State Highway 249.

Last year, DDR bought the Greenway Commons center, located in Houston’s Inner Loop, at the corner of Weslayan and Richmond Avenue. DDR is an owner and manager of 401 value-oriented shopping centers representing 119 million square feet in 41 states and Puerto Rico.

In Orlando, DDR just acquired International Drive Value Center, a 186,000-square-foot power center for $33 million.

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