Monday , 26 September 2016
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Edifis Group Buys Retail Center from Weingarten

HOUSTON Edifis Group, a Houston-based real estate development and acquisition company focused on retail centers, purchased Palmer Plaza, a shopping center located in Texas City, south of Houston. The seller was Weingarten Realty, a Houston-based REIT.

The shopping center, situated next to a new HEB grocery store, is located on 8.42 acres and spans 98,000 square feet.

“We feel there is an excellent synergy with the new HEB being introduced to the area and an opportunity to redevelop, upgrade, and modernize the center. The improvement of Palmer Plaza’s physical presence will prove complimentary to the new HEB and the community as well as attracting a new tenant profile,” said Josh Aruh, founder of Edifis Group. “I am committed to investing in communities with a strong workplace population and the new HEB marks a positive change in the area.”

The center, located about 15 miles north of Galveston on FM 1764 at State Hwy 146, is strategically positioned along Texas City’s main retail avenue in the heart of the city.

Edifis Group is a private, fully integrated Texas real estate development and acquisition company that targets institutional-grade properties with value added fundamentals.

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