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Category Archives: Retail

Economic Indicators: Pizza and Population

HOUSTON – More than 1,200 people a day relocate to Texas from other states, drawn by consistent job growth for the last four years. CBRE Research reports the population growth has an unforeseen side effect – an influx of pizza outlets. An excerpt from CBRE Marketflash: “Austin, Dallas/Fort Worth (DFW), Houston and San Antonio are among the fastest-growing metros in ... Read More »

Fidelis Realty Acquires San Jacinto Regional Mall in Baytown; Major Redevelopment Planned

BAYTOWN, Texas – A Fidelis Realty Partners affiliate has acquired the 1.2 million square foot San Jacinto Mall in Baytown for a major redevelopment. The mall, built in 1981, is located on the east side of Houston on 107 acres at the southwest corner of Interstate 10 and Garth Road, and is anchored by Macy’s, JCPenney and Sears. Houston-based Fidelis ... Read More »

Whitestone REIT Buys Austin Retail Centers for $45M

AUSTIN — Whitestone REIT of Houston has acquired Parkside Village North and Parkside Village South in Austin for $45 million. The two centers, near the entrance of the Circle C Ranch community off the Mopac Expressway, are 100 percent leased and contain a total of 117,146 square feet. “With this acquisition closed, we have now invested $135 million in the Austin ... Read More »

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 ... Read More »

Retail Center Breaks Ground in Pasadena, Texas

HOUSTON – Construction is underway at Market at Crenshaw, a 168,924-square-foot, two-phase retail development located on 24 acres in the Pasadena submarket on Beltway 8 between Crenshaw Road and Fairmont Parkway. Transwestern Retail Vice Presidents Grant Walker and Crystal Allen were retained to lease the property on behalf of the developer, a partnership of Ley-Wilson Development LLC and H5 Ventures, ... Read More »

The First Mexican REIT Buys Mexico City Center from Hines

MEXICO CITY – Hines has sold its CityCenter Bosque Esmeralda to FibraShop, the first Mexican Real Estate Investment Trust, or REIT. The 318,353,-square-foot shopping center is located in the metropolitan area of Mexico City. Savills marketed the property on behalf of Hines. Designed by KA Architecture of Cincinnati, the four-level, open-air center features more than 90 restaurants and retailers, along ... Read More »

Large Mixed-Use Project Moves Forward on Texas Instrument Tract

Stafford, Texas – The Stafford City Council has approved a plan to redevelop the 192-acre Texas Instruments site on the Southwest Freeway, just southwest of Houston. Last year, Street Level Investments, the developer of the mixed-use project, said it is expected to include a 400,000-square-foot Simon Premium Outlet retail center, 600,000 square feet of office space, multifamily development and a ... Read More »

Cencor Breaks Ground on 140,000-SF Shopping Center South of Houston, Near Big Dow Chemical Plant Expansion

CLUTE, Texas —Cencor Realty Services has broken ground on Woodshore Marketplace, a 140,000-square-foot shopping center at the southeast corner of Oyster Creek Drive and Dixie Drive within the master-planned Woodshore community near Houston. The project is near the massive Dow Chemical operation, a 4,200-employee facility in the immediate area, with plans for another 2,000 jobs in 2016. Woodshore Marketplace will be ... Read More »

Inland Buys Shopping Center in Houston’s Energy Corridor

HOUSTON – Inland American Real Estate Trust purchased the Green Tree Shopping Center, a 147,658-square-foot, 99-percent-leased power center in the Energy Corridor area of west Houston. Despite a softening in the Houston economy due to falling oil prices, demand for quality retail properties remains strong, says Rusty Tamlyn of HFF which represented the seller, a California TIC group managed by ... Read More »

Simon Planning to Upgrade Luxury Offerings in $250 Million Renovation of Houston’s Galleria

HOUSTON – Simon, the global retail real estate company, has announced a $30 million renovation of Houston Galleria’s luxury wing as part of $250 million re-do of the landmark mixed-use project. Complementing the previously announced construction of a new, state-of-the-art flagship Saks store, the addition of 110,000 square feet of new retail space and the creation of a 14,000 square ... Read More »

CBRE: Houston Retail Center Market Hits Record High

HOUSTON – Houston’s retail center market occupancy is at its highest point ever and it’s filling up fast, according to the CBRE Group. Occupancy hit 93.4 percent at the end of the year and many prime retail centers in Houston are running 100 percent occupancy, according to a CBRE Texas Marketflash report issued this week. Leasing is strong and a ... Read More »

Sale of AmREIT Firm Approved: Closing of Deal in Late Feb.

HOUSTON —  Shareholders of AmREIT Inc., a Houston-based real estate development firm, have approved the sale of AmREIT to South Carolina-based Edens Investment Trust. AmREIT controls a number of significant retail centers and mixed-use projects including the Uptown Park, a major Houston center that is undergoing a major redevelopment and high-rise densification. The deal will close between Feb. 18 and Feb ... Read More »

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