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Category Archives: Retail

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 »

32 New Grocery Stores Will Be Built in Houston in 2015

HOUSTON – Houston is experiencing a retail construction boom with 32 new grocery stores, along with other retail properties in the 2015 pipeline, according to a retail survey by Wulfe & Co. Wulfe projected that 3.7 million square feet of retail space will open in the Houston area this year, a 56 percent increase over last year. Houston’s retail construction ... Read More »

CBRE Acquires UCR of Dallas

DALLAS – CBRE Group, Inc.  has acquired United Commercial Realty (UCR), a Dallas-based commercial real estate firm specializing in retail services. UCR manages retail properties for institutional investors nationally and provides brokerage services for them and for leading retailers across Texas and other markets. “The UCR professionals are a wonderful addition to our team in Texas and our national retail brokerage and property management ... Read More »

CBL/Stirling Developing Large Retail Center in Lafayette, Louisiana

LAFAYETTE, La. — CBL & Associates Properties and Stirling Properties created a joint venture to develop Ambassador Town Center in Lafayette, Louisiana. On a 58-acre site, the retail center will be built in one phase and will be 425,000 square feet with major retailers including Costco, Dick’s Sporting Goods, Field & Stream, Marshalls,HomeGoods, Nordstrom Rack, Off Broadway Shoes, Chuy’s, Panera Bread and Freddy’s Frozen Custard & Steakburgers. The majority of ... Read More »

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